Dear Speaker Ritter:
The U.S. Chamber of Commerce (“Chamber”) urges the House not to take up Senate Bill 2 (“SB 2”) this term and instead commit to a more thorough review of the implications of proposed Artificial Intelligence (AI) regulations on Connecticut businesses and consumers. We are concerned that premature action on SB 2 could result in the derailment of the important and beneficial uses of this significant and evolving technology.
AI is foundational to America’s economic growth. PWC estimates that AI will contribute $15.7 trillion to the global economy by 2030. [1] AI will be especially beneficial for small businesses. A recent Chamber report found that nearly one-quarter of U.S. small businesses already leverage AI to increase their profitability, and 39% are expected to use AI tools within the next year.[2]
At the same time, many small businesses are concerned about increased litigation and compliance costs stemming from navigating a patchwork of state AI and tech laws.[3] A significant number of small companies are already forgoing AI adoption because of “concerns about legal or compliance issues.”[4]
Existing laws and regulations already cover many AI activities. Where gaps exist, policymakers should seek ensure that new policies are tailored to the risk and don’t unnecessarily hamper innovation. We outlined possible approaches to regulation in the March 2023 report of the Chamber’s Commission on Artificial Intelligence Competitiveness, Inclusion, and Innovation. [5]
Given the significant complexities associated with AI, and the vast scope of SB 2, we call on you to ensure there is more time for review and analysis. We look forward to working with you and the legislature on this important issue.
[1] PricewaterhouseCoopers, “Global Artificial Intelligence Study: Exploring the AI Revolution” available athttps://www.pwc.com/gx/en/issues/data-and-analytics/publications/artificial-intelligence-study.html
[2] U.S. Chamber Technology Engagement Center,” Impact of technology on small businesses report” (September of 2023) available athttps://www.uschamber.com/assets/documents/The-Impact-of-Technology-on-Small-Business-Report-2023-Edition.pdf
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[5]U.S. Chamber Technology Engagement Center, “Commission on Artificial Intelligence Competitiveness, Inclusion and Innovation,”(March 2023) available athttps://www.uschamber.com/technology/artificial-intelligence-commission-report
