New York’s pioneering AI initiative will protect American leadership in innovation

Gov. Kathy Hochul’s recent State of the State address highlighted a crucial truth: “Whoever dominates the AI industry will dominate the next era of human history.” Artificial intelligence isn’t just another technology trend. Instead, it is the cornerstone of our collective futures, and New York’s “Empire AI” initiative is a smart strategic blueprint for unlocking AI’s vast potential.

Regrettably, the rising anxiety over AI’s impact is driving a premature push to over-regulate this fast-growing field. While AI undoubtedly needs sensible safeguards, we must confront a critical concern: reactionary regulatory actions are likely to hand a lasting advantage to our authoritarian adversaries in this crucial technological arena.

The United States, once the unchallenged leader in technological innovation, is facing stiff competition, particularly from China. Just a few years after Beijing launched a $1.4 trillion plan to seize the world’s tech crown from the U.S. Meanwhile, the latest report on the State of Science in America finds the U.S. is rapidly losing ground in global leadership in science and technology. This backdrop makes Governor Hochul‘s dedication to AI innovation not just timely, but critical. By bridging the gap in AI resources, Empire AI positions New York and, by extension, the United States, at the forefront of this technological revolution.

AI is no longer a futuristic concept — it is here, revolutionizing our daily lives and addressing some of our most pressing challenges. From personalized education and small business efficiency to breakthroughs in healthcare, addressing the opioid crisis, and improving food production and safety, AI‘s potential is vast. These are not hypothetical scenarios — they are realities transforming our world today.

A smart approach to AI regulation must strike a delicate balance between mitigating potential harms and accelerating innovation. The recent agreement on voluntary standards between the federal government and leading AI firms is a step in the right direction, fostering a collaborative environment for safe, secure, and transparent AI development.

Not only will AI become a critical component of our national security, but the economic implications of AI are staggering. A PwC report estimates AI’s global economic impact to be $14 trillion by 2030. If we wisely regulate, we will capture the majority of that economic value — along with millions of new jobs — for America. If we act short sightly, we will cede much of those gains to China, along with increased global influence.

In this context, the Empire AI consortium is exactly what’s needed to meet this moment. By investing in a state-of-the-art AI computing center and fostering collaboration among New York’s top institutions, this initiative is poised to make New York a powerful hub of AI innovation and will represent a significant step towards maintaining America’s technological edge. Gov. Hochul’s multi-faceted approach — cooperation between academia, the private sector, and government — is a model of how we can foster AI innovation while promoting ethical applications and reducing the potential for bad actors to exploit the technology. This consortium is not just an investment in technology – it’s an investment in our future, in jobs, in our security, and in our ability to use this revolutionary tool for the public good.

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The AI era will be even more transformative than the advent of the internet, so it is crucial that we get it right. New York is not just securing its place in the AI landscape, it’s ensuring that the U.S., guided by its democratic values, leads the way in shaping the planet’s future. Our elected officials in Washington should take note — they can’t fall prey to fear-mongering and anti-tech fervor. Their eyes should be squarely focused on the horizon and on policies that support American innovation. As Hochul poignantly observed, the next era of human history depends on their leadership.

Doug Kelly is CEO of the American Edge Project, an advocacy organization dedicated to advancing and protecting American leadership in technology and innovation.

This article originally appeared on Rockland/Westchester Journal News: New York’s pioneering AI initiative will protect American leadership in innovation