Biden campaign proposes $300b for “innovation funding” of AI and quantum computing
by Beth Duckett, Inside AI
Joe Biden's campaign proposed $300b worth of "innovation funding" over four years, which would go toward AI, quantum computing, and other advanced projects. The Biden/Harris administration is projected to invest additional money into AI, partially because its overall R&D spending is expected to be higher than previous administrations.
In August, the Trump administration announced a $1b investment in AI and quantum computing hubs. $140m was earmarked for seven AI initiatives focused on areas like forecasting prediction, precision agriculture, workforce development, and AI in the classroom.
The Trump administration also released an executive order last year outlining policies and plans to maintain American leadership in AI.
The WSJ now reports that AI is expected to remain as one of the key priorities for the U.S. under the Biden administration, though "spending and regulatory approaches are expected to differ" from Trump's.
The publication reported that the $300b in proposed innovation funding would be in addition to federal R&D spending. It would "spur advances in technologies such as AI," partially to help the U.S. stay competitive with China in advancing tech.
Information Technology & Innovation Foundation president Robert D. Atkinson said a Biden administration could issue new requirements when it comes to AI, such as requiring AI algorithms to be transparent and explainable in business. The Trump administration has taken a less regulatory approach. “If you’re in the business of developing, adopting, or using AI, that could be somewhat problematic,” Atkinson said.
This article first appeared at AI.com on Nov 9, 2020.