By Dylan Guest, Director, Communications
The Dallas Regional Chamber (DRC) held a joint conversation with the U.S. Chamber of Commerce Monday, June 24, to discuss emerging technologies and the state and federal policy implications of cybersecurity, data privacy, and artificial intelligence (AI). The Dallas Region’s leaders who represent the innovation and technology sectors are widely regarded as connected and knowledgeable. This recognition makes such conversations a standard for regional contribution to the national and global dialogue about anticipated impacts of emerging technology use.
Here’s what the business community needs to know.
The U.S. is uniquely situated to lead the global AI effort.
The Commission on Artificial Intelligence Competitiveness, Inclusion, and Innovation, formed by the U.S. Chamber of Commerce, spent several months traveling nationally and internationally to research and ultimately publish a report diving into AI’s revolutionary potential and what a risk-based, regulatory framework would look like.
“AI is impacting all of us; simultaneously, the risks of AI are real and we’re seeing them play out in society,” said Shekar Katuri, Managing Director, AI Program Strategy & Governance at Bank of America, and U.S. Chamber of Commerce AI Commissioner. “The goal here was to find the roadmap for the right regulations.”
The report found that almost all businesses and governments will adopt AI within the next decade or two, underscoring AI’s inevitable impact. However, the report also found that a lack of regulation could harm the economy, diminish individual rights, and hinder technological advancement. With its advanced technological and legal systems, and strong global relationships, the U.S. is in a prime position to lead this effort worldwide.
Strengthening existing tech regulations is a practical and viable pathway.
“Look at something like the banking sector that is already highly regulated—there are regulations on anti-discrimination, data privacy, protection of intellectual property rights, and more,” said Katuri. “There are many regulations already in place that are working well.”
One strategy for regulating AI is to build on existing structures.
“You don’t want to drop everything and start something new; you want to strengthen what’s already in place,” said Katuri. “AI is not solely creating new risks, it’s actually heightening existing risks.”
Small businesses are rapidly increasing their adoption of AI.
“Through our surveys, we found that one-quarter of small businesses nationwide are actively using AI,” said Jordan Crenshaw, Senior Vice President, U.S. Chamber of Commerce Technology Engagement Center.
Texas is leading the charge.
“One-third of Texas small businesses are using AI, making the state a leader in the adoption of AI use cases,” said Crenshaw. “It’s also important to note that 77% of Texas small businesses have said that AI and new technologies have enabled them to compete with larger companies.”
Most use cases show small businesses leveraging AI for marketing, communications with consumers, and identifying potential new customers.
“At the end of the day, it’s the small businesses who probably reap the most benefits as they have fewer resources to start with,” said Crenshaw.
Texas is a leader on the privacy front.
According to a Pew Research Center survey in 2023, 81% of Americans say the information companies collect will be used in ways that people are not comfortable with, making privacy a major concern. Texas, however, has been at the forefront of this issue.
“Texas State Representative Giovanni Capriglione has been a leader on the privacy side—he passed a very good privacy law last year, Texas House Bill 4, and we endorsed it and supported it,” said Crenshaw. “We support the Texas standard as the national standard – it’s the right model for the country and where Texas should lead.”
Capriglione echoed this statement at the DRC’s Convergence AI Dallas conference in May.
“My perspective is when Texas leads, when Texas does something right, the rest of the country will follow,” said Capriglione.
The Tech Policy Task Force was launched by the DRC this year to proactively address and lead discussions on upcoming legislation expected to be at the forefront of many conversations. To inquire about joining the Tech Policy Task Force, email Rebekah Chenelle at rchenelle@dallaschamber.org.
To learn more about the DRC’s work in Public Policy, visit our website.