Appian(APPN) Market Watch·2024-01-04 18:50Core Insights - State legislatures are taking the lead in regulating artificial intelligence (AI) due to the lack of substantive federal laws, with over two dozen states introducing bills and at least 12 states enacting legislation to better understand AI's implications [1][2] - There is a growing concern among consumers regarding AI, with 52% expressing more concern than excitement about its increasing role in their lives [3] - The European Union is ahead of the U.S. in AI regulation, with its AI Act expected to be passed this year and effective in 2026, serving as a potential model for U.S. federal regulation [4] State Legislation - States like California, Colorado, and New York have enacted laws to regulate AI, focusing on areas such as algorithmic discrimination and the use of AI in hiring practices [2][6] - Florida and New Hampshire are considering bills to govern AI in political advertising, particularly concerning deepfake technology [2] - Thirty states have passed over 50 laws related to AI in the past five years, often as addendums to existing consumer privacy laws [5] Federal Landscape - The American Data Protection and Privacy Act, a national privacy bill, has stalled in Congress, leaving a gap in federal regulation of AI [7] - President Biden's executive order on AI outlines a framework for responsible AI use, requiring the tech industry to develop safety standards and consumer protections [7] Industry Concerns - The lack of a unifying federal law creates a complex patchwork of state regulations, leading to compliance challenges for tech companies operating across state lines [8] - Industry leaders emphasize the need for national legislation to safeguard data and streamline compliance processes [8]