Last week, leaders in the Texas House of Representatives released a comprehensive bill to address the advancement of Artificial Intelligence (AI) technology and the potential negative effects of AI on consumers.
Dubbed the “Texas Responsible AI Governance Act,” the legislation would create a new state agency, the Texas Artificial Intelligence Council, to govern the ethical and legal use of AI, offer guidance to state agencies and ensure that the use of AI is in the best public interest.
The bill would further create a framework for developers of “high risk” AI applications to compile risk assessments for potential harm to consumers. A “high risk” AI application is one that could make or inform a consequential decision affecting a consumer, including the costs of goods and services, including a financial service.
Deployers of “high risk” AI applications, like companies who purchase software that incorporates AI functionality, would be required to provide human oversight of AI applications and to compile reports validating the purpose and outcomes of use of AI models.
“We are still in the earliest days of application of artificial intelligence on the daily lives of consumers,” said IBAT President and CEO Christopher Williston. “IBAT is committed to consumer protections and to mitigating the risks to Texans from the unintended consequences of AI. We look forward to working with House leaders to strengthen Texas’s approach to emerging technology.”
