Wharton Article Proposes AI Measurement and Incident Reporting Act for Federal Regulation
A Knowledge at Wharton article argues that the focus of AI regulation should shift from speed to measurement, proposing a federal AI Measurement and Incident Reporting Act. This act would direct the National Institute of Standards and Technology's (NIST) Center for AI Standards and Innovation to establish common definitions and reporting forms within a year. Under this proposed legislation, frontier AI developers exceeding a certain capability threshold would be required to file standardized pre-release evaluations and serious-incident reports with a federally supervised body. Additionally, large hospitals, employers, and lenders utilizing AI would report consequential errors, human overrides, and outcome disparities to their existing regulatory bodies, such as HHS, the EEOC, and the CFPB. The article suggests that independent auditors would verify these reports, and aggregate results would be made public, with transparent criteria for triggering investigations or remediation.
