Will a Biden-Harris Administration Advance AI?
With a new administration coming to the White House in January, there will be a lot of new and interesting changes. The shift from a Republican administration to a Democratic one will, without a doubt, mean a different set of priorities. A Biden-Harris administration could pave the way toward a more hopeful future for artificial intelligence (AI).
Most artificial intelligence researchers and tech companies have been disappointed with President Donald Trump’s AI policies. In February, the White House announced that it would bump non-defense-related AI investment to $2 billion annually by 2022. That figure was inadequate to some analysts, considering the amount of money needed to fund necessary AI research. It would put the country behind the rest of the world when it comes to advancing major technologies.
While the Biden campaign didn’t outline any detailed plans for AI research, we can assume that it would be in favor, especially since it has promised to invest in science and new technologies to advance America. Biden has said that his administration would increase the federal research and development budget to $300 billion over the next four years. Trump’s administration had planned on budgeting $142.2 billion for federal research and development in 2021.
This investment in research and development in growing industries like 5G, artificial intelligence, advanced materials, biotechnology, and clean vehicles would be immensely beneficial to America and more importantly to middle-class Americans, who have been searching for jobs.
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The Biden campaign emphasized that America needs to increase its research and development efforts in technology and science because of China, saying:
China is on track to surpass the U.S. in R&D. China’s government is actively investing in research and commercialization across these types of important technology areas in an effort to overtake American technological primacy and dominate future industries.
America can’t afford to be left behind in the development of some of the world’s future leading technologies. According to a market report by Grand View Research, the market for global artificial intelligence was valued at $39.9 billion in 2019. It’s expected to grow at a compound annual growth rate (CAGR) of 42.2% from 2020 to 2027. That’s massive growth and will provide opportunities for governments to grab a piece of the industry. It would be extremely beneficial for America to be a leader in the market, with other countries relying on the U.S. for advancements in AI technology.
It’s still unclear to what extent the Biden-Harris administration will invest in the technology (we probably won’t have an idea until the administration is officially in the White House). Likewise, technology companies and AI researchers will have to wait and see what this administration will offer in terms of a research and development budget. It’s a good first step to see that this incoming administration is willing to grow and fund research and development in science and technology. This investment will not only boost America’s standing in the world, it will also create jobs in new technologies for the American people.
Until next time,
