Federal Initiatives Support AI Investment, Education and Feedback

With a rapid growth in AI technology and publicly available AI models, the federal government is looking to support innovation while protecting Americans’ rights and safety in this new age. 

We saw a massive increase in growth following the release of OpenAI’s ChatGPT in November which quickly became the fastest-growing consumer app in history. This launch had domino effects, igniting a full-scale AI battle between all the big tech firms.

In support of this mission, the Biden-Harris administration has announced new efforts to advance R&D and deployment of responsible AI.The administration has announced 3 new efforts which aim to manage potential risks presented by AI systems. By investing in responsible research and development (R&D), the administration hopes to effectively and safely seize the opportunities that AI presents.

  1. National AI R&D Strategic Plan

The plan has been updated for the first time since 2019 – from the White House’s Office of Science and Technology Policy (OSTP). The roadmap outlines key priorities and goals for Federal investments in AI R&D.

The plan will incorporate 9 key strategies for investment in order to better understand the national AI R&D workforce needs and ensure long-term investments are made to support fundamental and responsible AI research.

  1. Request for Information (RFI) to inform the National AI Strategy

Requested by the OSTP, the RFI will help inform the strategy to chart a path to harness the benefits and mitigate the risks of AI.

OSTP is looking for public comments by July 7 to help update U.S. national priorities on future AI actions.

  1. New Report Released by Department of Education’s Office of Educational Technology

The report will analyze the risks and opportunities related to AI in education including teaching, learning, research, and assessment. Opportunities may include new forms of interaction between educators and students while risks may include algorithmic bias and security risks.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Recent Posts