Hemant Taneja@htaneja
Today, 35+ VC firms, with another 15+ companies, representing hundreds of billions in capital have signed the voluntary Responsible AI commitments from @ResponsibleLabs (RIL), the non-profit I co-founded. As Chairman of RIL, I’m proud to unveil this today with tech leaders and Commerce Secretary Raimondo in San Francisco. This group includes (among others): @AntlerGlobal, @itsArthurAI, @BainCapVC, @Base10Partners, @CredoAI, @felicis, @FordFoundation, @generalatlantic, @generalcatalyst, Generation Investment Management, @InflectionAI, @insightpartners, @intelcapital, @IVP, @KinnevikAB, @Lux_Capital, @MayfieldFund, @Radicalvcfund, @RibbitCapital, @SoftBank, and @XYZ_vc.
These commitments include:
1. A general commitment to responsible AI including internal governance
2. Appropriate transparency and documentation
3. Risk & benefit forecasting
4. Auditing and testing
5. Feedback cycles and ongoing improvements
In addition to the Commitments, we are publishing a 15-page Responsible AI Protocol, a practical how-to playbook to help investors and start-ups alike fulfill the commitments. Since April, our steering group of cross-societal AI experts has worked hard to understand the unique considerations and relevant and realistic standards for technologists at any stage. We strongly believe in the power of AI to transform our world for the better. Our role as investors is to advocate for our startups and the innovation economy from day 1.
Everybody saw the executive order last month–the reaction in the Valley has generally been to denounce it. The reality is that right now it’s largely just reporting requirements. However, there is a risk that devolves into regulation that slows innovation down and makes America and its businesses uncompetitive. But the right path forward is to not be antagonistic towards D.C. We in the Valley need to learn that this is not about regulation vs. innovation, but about innovation at the intersection of technology, policy, and capital.
We have to embrace collaboration with our elected leaders. And as investors, we must hold ourselves accountable for what we fund and found. I want to commend the RIL team and committee for engendering trust and creating space for feedback, including with the Commerce Department and the White House.
We are facing what is likely the quickest adoption of any new technology ever in AI. It’s difficult to think about the regulatory frameworks that protect the pace of innovation as well as protect against any nefarious use cases of technology. While we all learn how this role of technology evolves, it’s important for us to be intentional about the mindset and mechanisms used in building early stage companies, as both investors and founders. We can’t wait or kick the can down the road.
We hope to see more venture firms and startups embrace this mindset, and encourage more to consider signing: rilabs.org/responsible-ai
