Goldman Sachs predicted this year that generative AI could cause 300 million full-time jobs to become automated. That would affect more people than the entire population of Indonesia.
It's clear that AI is here to stay and some human jobs will inevitably fade away, but a vital component of keeping those jobs safe can be tied to government regulation. Although companies want to leverage AI to maximize efficiency, regulations must be implemented to integrate this tech the right way.
By regulating the use of AI in recruiting, the Biden administration will ensure that bias is reduced in the workplace and that humans, not robots, are better at what they do for a living.
Federal laws regulating AI in hiring have yet to take effect, but multiple states and municipalities are working to establish policies. New York City has already passed a law regarding an automated employment decision tool that requires annual third-party audits to assess an AI's biases.
New Jersey, Illinois, Maryland, and California are other states looking to limit hiring bias by outlawing facial recognition, interview video analysis, and screening for gender or race. All of these bills will help protect human job security and the greater economy from the threat of AI.
As indicated by management consulting company Gartner, "Differences of age, ethnicity, gender and other dimensions foster high performance." The economy is stronger and more resilient because of its diversified workforce. The World Economic Forum supports this point with research indicating that organizations with higher diversity scores obtain double the revenue through innovation. If America wants to stay at the forefront of this movement, President Joe Biden and his cabinet must make sure robots aren't taking our jobs.
Balance is needed for AI recruitment regulations. While policies are needed to ensure AI stays safe for the public, they should not be so extensive that they kill the innovation and efficiency that these tools can provide. We still need them in the workplace, but Biden should use the rest of his term to enact legislation that protects the future of human work.
AI can be a detriment to our economy, and more specifically, the unemployment rate, so we cannot have uneducated officials controlling our fate. To avoid this from happening, Biden and other government officials should educate themselves on AI, as they are doing currently, and call on experts to design new laws. That way, AI will be ethical and beneficial for the world's diverse talent pool—not a smarter, cheaper replacement.
AI in the workplace has broad implications on both sides of the spectrum. It can be transformative for eliminating hiring admin tasks, improving employee engagement, and tailoring onboarding processes. But it can also exacerbate race and gender inequalities and preferences for candidates who "fit" into certain boxes. That is why the Biden administration should not let people choose whether they will perpetuate biases with AI.
Ethical employers want meritocratic hiring, so AI should be responsibly deployed and regulated. In the words of a New York Times article, doing so is a no-brainer: "The U.S. Regulates Cars, Radio and TV. When Will It Regulate A.I.?"
Policies that enforce equality with the help of AI will enhance the business environment. AI legislation should provide a healthy framework on how companies can help employees augment their intelligence. IBM's chief human resources officer Nickle LaMoreaux first coined the term "augmented intelligence" in an interview, saying that AI can only work its magic in HR when all levels of talent are using it to supplement their abilities.
I think other companies should see regulation from this angle. They must remember that the hype or doom about AI exists for a reason. This tech is a big deal because it is reshaping our futures—and careers—before our eyes. Not enacting the correct policies for AI in hiring is the equivalent of letting planes fly on autopilot. I've previously explained that there is too much on the line to dismiss the importance of human intervention.
The U.S. government introduced the AI Bill of Rights to provide guidelines and education for companies and individuals. The goals of this framework are to ensure systems are safe and effective, free of algorithmic discrimination, and protect data privacy, among other principles.
Biden has also committed billions to the research and development of AI, as well as auditing policies. The promises of these executive orders are grand and they will take a long time to come to fruition.
Until actual laws are solidified, companies integrating AI should adhere to the principles our government hopes to create. Doing so will not only stimulate economic growth, but it will also allow society to stay human-centric among disruptive technologies.
Once AI becomes commonplace for hiring talent and retaining it, the world will witness much more innovation. Teams will be diversified in their thinking, skill sets, and backgrounds, which will help them resolve economic, social, and humanitarian threats. This will bolster the resilience of our economy and allow humans to discover what life and work is like with AI as a companion, not a replacement.
Oz Rashid is the CEO and founder of MSH, a global tech and talent solutions consultancy. He is currently developing Aeon Hire, a revolutionary hiring platform that leverages AI to help companies make better hiring decisions.
The views expressed in this article are the writer's own.
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