Center for American Entrepreneurship Applauds President Biden’s Executive Order on Artificial Intelligence

WASHINGTON, D.C. – John R. Dearie, president of the Center for American Entrepreneurship, released the following statement regarding President Biden’s issuance on October 30, 2023 of an Executive Order regarding artificial intelligence:

“The Center for American Entrepreneurship applauds President Biden’s Executive Order on artificial intelligence (AI) and thanks the President for his leadership regarding this critical technology.

AI is a truly revolutionary technology with the potential to transform virtually every aspect of human existence – how we work, learn, play, conduct business, produce, and innovate.  In its dramatic implications for productivity growth, AI will surely accelerate economic growth and opportunity expansion.  But the technology also raises the specter of job destruction, new ways to produce and distribute misinformation, and new opportunities for social disruption and criminality.

AI tools and systems, therefore, must be designed, developed, and implemented in ways that are socially and economically responsible, that support and accelerate American innovation, that promote a more inclusive prosperity, and that consistently earn the trust and confidence of the American people.

Establishing appropriate guardrails for AI is ultimately the role of government and President Biden’s Executive Order is a major milestone in that effort, addressing important issues such as safety and security, privacy, equity and civil rights, American leadership in AI, and international cooperation.

As policymakers continue to develop, implement, and refine responsible AI policies, it is critical that they consider and incorporate the unique contributions, insights, and priorities of new and small businesses, for several important reasons.

First, thriving entrepreneurship is critical to a strong and growing economy.  Repeated research has demonstrated that startups are disproportionately responsible for the innovations that drive productivity growth and economic growth, and account for virtually all net new job creation.

Second, entrepreneurship is risky – a third of new businesses fail by their second year, half by their fifth.  But those that survive often grow and create jobs at very rapid rates.

Finally, as some of America’s most innovative companies, startups will no doubt play a leading role in the development and application of AI.  Indeed, in many cases startups will out-innovate and outpace large incumbent technology companies.

Simply put, if AI is a truly transformational technology – and it is – and if new and small businesses are the engine of innovation and economic growth – and they are – then startups are essential to the development of America’s national AI strategy.”

About the Center for American Entrepreneurship

The Center for American Entrepreneurship (CAE) is a nonpartisan, Washington, DC-based 501(c)(3) research, policy, and advocacy organization founded in July of 2017.  CAE’s mission is to engage policymakers in Washington and across the nation regarding the critical importance of entrepreneurs and startups to innovation, economic growth, job creation, and expanding opportunity – and to pursue a comprehensive policy agenda intended to achieve a stronger, more resilient, and inclusive U.S. economy through thriving entrepreneurship.

For more information, visit www.startupsUSA.org.

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