Artificial intelligence (AI) refers to the ability of a computer or a computer-enabled robotic system to process information and produce outcomes in a manner similar to the thought processes of humans in learning, decision making and problem solving. As a result of rapid advances in AI, pre-pandemic, McKinsey Global Institute estimated that between 75 and 375 million people around the world will need to change jobs or acquire new skills by 2030. AI both holds promise of innovation and disruption, as does the legal framework that is developing to rein in its risks without hindering its progress.
In May 2019, the US Government joined the OECD (Organisation for Economic Co-operation and Development) in setting forth principles to improve the innovation and trustworthy development and application of AI. At the same time, the bipartisan Artificial Intelligence Initiative Act (AIIA) was introduced in the US Senate to organize a national strategy for developing AI and provide a $2.2 billion federal investment over five years to build an AI-ready workforce, accelerating the delivery of AI applications from government agencies, academia, and the private sector over the next 10 years.