Former FTC AI Advisor Critiques Tech’s Incentive Structure

Timothy Hwang, former advisor to the Federal Trade Commission on artificial intelligence (AI) and machine learning, shared his thoughts on the current incentive structure in the tech industry, which he believes focuses too heavily on growth and not enough on the social implications of AI.

Hwang’s Take on Tech Industry Priorities

Hwang, now CEO of FiscalNote, stated that the tech industry’s current focus is skewed towards growth and increasing shareholder value, often at the expense of considering the broader social implications of technologies such as AI. Hwang suggested that companies must be more mindful of the impact of their technologies on society, emphasizing the need for a more balanced approach.

Need for More Responsible AI Development

In his discussion, Hwang emphasized the need for tech companies to take a more responsible approach to the development and deployment of AI. This includes considering the negative impacts such as potential misuse of AI, privacy concerns, and unintended social consequences. He urged tech companies to build more ethical considerations into their business models and practices.

Hwang’s Policy Recommendations

Drawing from his experience as an AI advisor to the FTC, Hwang recommended regulatory measures to hold tech companies accountable for the social implications of their AI technologies. He suggested that tech companies should be required to conduct impact assessments for their AI projects to ensure they consider the broader societal implications.

Hwang’s critique of the tech industry’s incentive structure calls for a shift in focus from growth and profits to ethical considerations and societal impacts. He emphasizes the need for tech companies to be more responsible in their AI development and recommends regulatory measures to ensure tech companies consider the broader impacts of their AI technologies.