Elon Musk and Mark Zuckerberg will talk AI rules in Senate forum today

Excitement over generative artificial intelligence and its potential to revolutionize the U.S. economy has swept through corporate boardrooms, and lawmakers in Washington are taking notice.

“Our world is already changing in dramatic ways because of artificial intelligence, but we’re likely just at the start,” Schumer said last week, adding that he hoped the forum will “supercharge” work on AI-related regulations.Other invitees include OpenAI CEO Sam Altman, Microsoft CEO Satya Nadella, former Google CEO Eric Schmidt and IBM Corp. IBM, -1.40% CEO Arvind Krishna.

“I don’t think Schumer’s shindig will amount to much because he invited the body parts, but not the brain. AI Independent Software Vendors are the secret sauce that enable AI, and they’re the ones leading Enterprise companies on their inaugural AI journeys, not Cloud Service Providers or Elon Musk,” Andrea Huels, head of global growth and strategy at software company RadiusAI, said in an email.

“What is going to be the outcome of this forum? An executive order that is to land as a result or regulatory guardrails? I really hope we don’t repeat the same mistakes we made over social media,” said Navrina Singh, CEO and founder of Credo AI Corp., a software company that provides corporate governance for AI.

“With generative-AI, it is a brave new world. No matter what happens, the world needs to do something. But it takes a long time to get any meaningful action at all,” he said in an interview. Waseem Daher, a serial entrepreneur who sold companies to Oracle Corp. ORCL, -13.50% and Dropbox Inc. DBX, -1.43%, said that some regulation is important “so companies behave responsibly.” He added: “Bad regulation can really set back domestic companies, especially in competition with European companies.”

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