Regulatory Technophobia — Not What We Need Right Now
How dismaying to see a text from my sister this morning about the FDIC innovation chief quitting because so many of his government brethren are appallingly behind when it comes to technology. These are the people, I might add, who are overseeing our financial infrastructure and the wheels of progress (or not) that make it run.
One of my team members, a CTO, called the article a “gut-punch to many.” I agree with his sentiment. Our regulator’s lack of basics when it comes to technology, aptly described in this article, is terrifying. Our associates overseas within Outsell lamented that it’s no different in the UK. While Russia’s leader borders on insanity, and China aspires to be the preeminent technology leader in the world, this lack of knowledge comes raining down upon us.
Also this morning comes a ruling from the US Copyright Office that AI-generated content isn’t copyrightable because it doesn’t include an element of “human authorship.” We can program the machines, but what they do no longer has bearing on us? Hmmmm. This is a topic that won’t go away, and its impact on all of us in the information industry is huge. We use AI to power our solutions — does this mean that what our AI-powered solutions create and deliver is no longer IP we can protect?
Speaking of AI, today also came news that it is apparently getting much better at writing code, a development that prompted ZDNet to wonder if it was bad news for developers. One analyst said it was a matter of time; another said “not even going into coding will guarantee you a job now!” Maybe we’ll be lucky, and AI can also take over for the politicians and regulators who are so far behind!
The industry’s lobbyists are asleep at the wheel and so might be many of our associations. Maybe that’s because our industry associations hang out in little fiefdoms focused on old neighborhoods that long ago collided and converged. So one association worries about e-books in libraries while another focuses on postage rates for print delivery that COVID and paper-supply-chain disruption pretty much wiped out. And where are the associations focused on financial information when it comes to the FDIC? I’m telling you, the world has gone mad.
Here in Cali, we’re bordering on the highest state tax rate in the country, and all we can deliver is a California version of GDPR. Our roads are broken, water is nonexistent, homelessness is everywhere, schools are a mess. Our tax dollars are not at work and, once again, the bureaucrats show how far behind the eight-ball they are. And don’t get me started about Mr. Zuckerberg sweating bullets when he was testifying. The people bearing down on him looked downright ancient. Apple is under pressure because it wants to control its AppStore. “Not fair,” cry the regulators. Am I living in “Atlas Shrugged”?
Maybe that’s my mood today coming off the euphoria of 2/22/22 (or 22/2/22, depending on where you live.)
There is simply no shortage of interesting things that hit my inbox each day. I wrote last week that sometimes it’s downright odd, but there’s an endless supply of things that keep me learning, curious, and wondering about how humankind can be so downright dumb. If this is what it’s like living in a 3D world, get me to 5D next time around the reincarnation wheel. I’m not signing up for Planet Earth next go; I’m in no hurry to leave, but I’m certainly not coming back here.