It is up to the federal government to make sure America embraces rapid technological change in a way that is “positive for as many of our citizens as possible,” said Rep. John Delaney (D-MD).
In an interview with Cheddar, the Congressman said he doesn’t believe such progress is a threat to the labor market.
“Innovation generally creates more jobs than it displaces,” said Delaney. “But the problem is oftentimes the jobs that get created by innovation are not located in the same places where the jobs that were displaced are located.”
He pointed out that 80 percent of venture capital in this country goes to just California, New York, and Boston, which means that innovation and job creation is highly concentrated in and around those places.
“I think that will continue unless policymakers do things to make sure more of our country has the opportunity to have people invest in their communities and kind of benefit from this innovation.”
Delaney founded the A.I. Caucus to do just that. Comprised of lawmakers from both sides of the aisle, the group strives to work with the private sector to come up with policy ideas that can help the country keep up with technological change.
“I just want to make sure we don’t leave huge parts of the country behind,” he said.
Senate Republicans have blocked the creation of a bipartisan panel to study the Jan. 6 attack on the Capitol.
Far more Americans are receiving unemployment benefits than the last time the jobless rate was at the current 6.1%.
The world's two largest economies, China and the United States, look to build their own digital currencies even as they look to reign in the private crypto sector.
Excessive sanitizing over COVID-19 fears may actually be harming more than helping. Cheddar explains.
The District of Columbia has sued Amazon, accusing the online retail giant of illegal anticompetitive practices in its treatment of sellers on its platform.
The White House says the United States on Tuesday will reach 50% of American adults fully vaccinated for COVID-19.
The White House says President Joe Biden is awaiting an infrastructure counteroffer from Senate Republicans. But talks are at standstill before a Memorial Day deadline.
The White House has put forward a $1.7 trillion infrastructure counteroffer to Senate Republicans.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
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