AI regulation will cost us trillions of dollars

I’m seeing renewed calls for the government to regulate artificial intelligence (AI).

I hate the idea of the government regulating AI.

No AI Bill of Rights or the AI Act for me, please.

Rule #1 for tech innovators: DON’T LET THE BUREAUCRATS IN. They’re innovation killers…

Here’s an updated version of what I call “the chart of the century.” It tracks changes in 14 important prices going back to 2000:

Source: AEI

Every industry the government touches turns to stone.

You can see healthcare and college costs (in red) — both heavily regulated and warped industries — surged faster than anything else.

Compare this to the industries that are mostly free from government interference (in blue). Prices down; quality up.

AI has the potential to transform America. It can create personalized tutors that turn our kids into straight-A students. It can develop lifesaving drugs at warp speed (and already is).

It can also create trillions of dollars in wealth for companies and investors.

But if the bureaucrats get a stranglehold of AI, forget about progress. Innovation will be replaced with endless ethics committees.

I call these people “decels” (decelerationists). They think artificial intelligence (AI) will come alive and wipe out humanity.

The “decels” were behind the OpenAI coup attempt a few months ago, when CEO Sam Altman was fired for essentially doing too great of a job pushing AI progress forward.

We can’t let them win.

And speaking of bureaucrats, this New York Times headline flashed across my screen last week:

Source: The New York Times

To butcher a line from my favorite sci-fi book, Dune: “Bureaucracy is the innovation killer.”

We need to stop AI regulation to fully benefit from it.

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