Artificial Intelligence Wisdom for Innovative Small Enterprises Act; AI–WISE Act
Summary
The AI-WISE Act aims to amend the Small Business Act by creating educational resources and modules to help small businesses evaluate and utilize artificial intelligence (AI) tools effectively. The Act mandates the Small Business Administration (SBA) to establish and maintain these resources on an existing online platform. An advisory working group will be formed to ensure the accuracy and relevance of the information provided.
The resources will cover various aspects of AI, including its limitations, identification of AI-generated outputs, risk management, and privacy considerations. The Act emphasizes coordination with resource partners to disseminate information and develop localized training resources.
Compliance with CUTGO (Cut-As-You-Go) rules means no additional funds are authorized, requiring the SBA to work within its existing budget. The educational resources and modules must be established within 180 days of the Act's enactment.
Expected Effects
The AI-WISE Act will likely increase the adoption of AI tools by small businesses by providing them with the knowledge and resources to evaluate and manage the risks associated with AI. This could lead to increased efficiency, productivity, and innovation within the small business sector.
However, the lack of additional funding may limit the scope and quality of the educational resources. The effectiveness of the Act will depend on the SBA's ability to create engaging and accessible materials within its existing budget and the willingness of small businesses to utilize these resources.
Potential Benefits
- Improved Decision-Making: Small businesses can make more informed decisions about adopting AI tools.
- Increased Efficiency: AI adoption can streamline operations and boost productivity.
- Enhanced Competitiveness: Small businesses can better compete with larger firms by leveraging AI.
- Risk Mitigation: Businesses can better manage the risks associated with AI, such as privacy concerns and biased outputs.
- Innovation: Encourages small businesses to explore and implement innovative AI solutions.
Potential Disadvantages
- Limited Funding: No additional funds are allocated, potentially limiting the quality and reach of the educational resources.
- Implementation Challenges: The SBA may face challenges in creating comprehensive and accessible materials within the given timeframe.
- Accessibility Issues: Some small businesses may still lack the technical expertise or resources to fully utilize the educational materials.
- Potential Bias: Despite efforts to avoid preference, the selection of AI models and tools may inadvertently favor certain providers.
- Lack of Enforcement: The Act does not include any enforcement mechanisms to ensure that small businesses actually use the resources or follow best practices.
Constitutional Alignment
The AI-WISE Act appears to align with the spirit of the Constitution, particularly the General Welfare Clause (Preamble). By promoting the growth and innovation of small businesses, the Act aims to contribute to the overall economic well-being of the nation.
Furthermore, the Act does not infringe upon any specific rights or liberties protected by the Bill of Rights. It does not establish a religion, restrict free speech, or violate privacy rights.
However, the Act's reliance on existing resources and the lack of specific enforcement mechanisms may raise questions about its effectiveness in achieving its stated goals.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).