#AI #GenerativeAI #AIRegulation #USA #California: "True, AI regulation could be neater. Newsom complained that the bill’s size threshold would spare smaller entities that could still do grave damage. That happened in banking, when mid-sized and lightly regulated Silicon Valley Bank unravelled chaotically in 2023. Still, better to set the threshold high and tweak later. In preventing crises, the perfect is the enemy of good.
The masterminds behind AI, and their venture backers, ought perhaps to pay more attention to the Wall Street analogy. For one, hated rules have only made big banks bigger. Despite harsh oversight, US institutions reign supreme because customers deem them safer. Financial invention, meanwhile, continues apace.
Moreover, regulation born out of an unprevented crisis can be very onerous indeed."
https://www.ft.com/content/cffd24e9-713a-424f-8fc0-0e421e78e5c9