Kamala Harris takes lead as AI regulation and semiconductor debates heat up

On July 21, U.S. President Joe Biden formally announced his decision to withdraw from the 2024 presidential race amid growing pressure from the Democratic Party. Biden said his resignation was in the best interests of the party and the country, and endorsed Vice President Kamala Harris as his successor.

The move introduces new uncertainties ahead of the 2024 election, where regulation of artificial intelligence and semiconductors have become hotly debated political topics.

Artificial Intelligence Regulations Didn’t Fall Out of a Coconut Tree

Interestingly, if Harris becomes the official Democratic nominee, her stance on AI regulation will be a focal point. Unlike Biden, Harris has been more outspoken about the need for regulation to address potential risks associated with AI, including deepfakes, algorithmic bias, and disinformation.

Its approach to AI regulation and its impact on semiconductor supply chains will be closely watched.

According to BloombergBiden’s decision to withdraw is aimed at uniting the Democratic Party behind a bid to defeat former President Donald Trump. In a July 21 statement, Harris expressed her intention to secure the nomination, writing, “my intention is to earn and win this nomination” on social media platform X (formerly Twitter).

The Democratic Party has not yet chosen a successor to Biden, but Harris is a leading candidate, supported by former President Bill Clinton and presidential candidate Hillary Clinton.

Born in Oakland, California, Harris has a long history in the technology industry, serving as district attorney for San Francisco and attorney general of California before being elected to the U.S. Senate in 2016.

As vice president, Harris has made clear the need for stronger regulation of AI, noting at the AI ​​Safety Summit in the U.K. in November 2023: “As history has shown, in the absence of regulation and strong government oversight, some technology companies choose to put profit ahead of their customers, the safety of our communities, and the stability of our democracies.”

Politico reported that during early discussions on AI policy in July 2023, Harris emphasized that there should be no “false choice” between supporting innovation and protecting society.

Biden, by contrast, has primarily advocated for self-regulation by AI companies. In October 2023, he issued a sweeping executive order on AI that drew criticism from Republicans who said it placed an undue regulatory burden on tech companies.

Trump: Friend or Foe of Technology?

Venture capitalists Marc Andreessen and Ben Horowitz have expressed concerns that the Biden administration’s approach could stifle innovation, citing that as one reason they supported Trump this election cycle.

The Washington Post reported that Trump mentioned during the podcast that he had heard from Silicon Valley “geniuses” about the need for more energy to fuel AI development in competition with China. Trump’s allies are also preparing an executive order that would launch a series of “Manhattan Projects” to develop military technologies and overhaul existing regulations deemed unnecessary.

The GOP platform launched ahead of the Republican National Convention includes plans to repeal Biden’s executive order on AI, which tech investors and startups have criticized as a hindrance to innovation.

Prominent Silicon Valley figures such as Tesla CEO Elon Musk and hedge fund manager Bill Ackman have endorsed Trump, suggesting a second Trump administration could be more favorable toward the tech industry.

In response to the proposed measures, the Trump campaign said that no future announcements regarding staffing or presidential policy would be considered official unless they are made directly by Trump or an authorized campaign member.

Trump’s recent comments criticizing Taiwanese semiconductor companies for allegedly diverting business from the United States and demanding protection fees have cast a shadow over future U.S.-Taiwan semiconductor cooperation. Chips made in Taiwan, led by TSMC, are key to the AI ​​hardware ecosystem.

What impact these comments and the November US presidential election will have on global AI development and supply chains remains an open question.