Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

July 1, 2025

How Additiv employs AI to transform financial services

July 1, 2025

Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik

July 1, 2025

The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.

July 1, 2025
Facebook X (Twitter) Instagram
Trending
  • Fioneer Unveils AI Agent to Revolutionize Financial Services Operations
  • How Additiv employs AI to transform financial services
  • Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik
  • The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.
  • Morgan Stanley terminates Fintech private banking activities valued at 19.1 INR
  • African fintech leaders are shaping the industry through worldwide acquisitions.
  • Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.
  • The emerging phase of competition in India’s fintech sector
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025

    Fintech Scotland and TSB unveil a new innovation lab initiative.

    June 3, 2025

    OECD Economic Outlook June 2025: The Fintech Executive’s Strategic Playbook

    June 2, 2025

    The impact of the fintech recruitment crisis on job seekers.

    May 28, 2025
  • AI

    Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

    July 1, 2025

    How Additiv employs AI to transform financial services

    July 1, 2025

    The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.

    July 1, 2025

    Meta seeks $29 billion for private credit firms to fund AI data centers.

    June 30, 2025

    The strategic growth advantages of the AI-driven TIPALTI financial platform in a post-Brexit environment

    June 29, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025

    Irish fintech remains on a remarkable growth trajectory, contrary to global trends.

    June 12, 2025

    The Irish fintech sector is thriving and surpassing global trends.

    June 9, 2025
  • Insights

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025

    Fintech Bank competes with HSBC and Lloyds in the current account market.

    June 24, 2025

    Netcapital’s Nasdaq acquisition of a web3-based free gaming platform without mixing code

    June 19, 2025

    Ali Kassab and Freedom PSP: Unraveling the Myths of Fintech

    June 19, 2025
  • Rumors

    The Giant Fintech Green Point Captivates Investment Capital Interest

    June 25, 2025

    Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

    June 20, 2025

    Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

    June 16, 2025

    Paraphrase the title from the Circle files regarding the IPO for the Bank.

    June 7, 2025

    Toncoin achieves $1 billion in trading volume as Visa executive joins and Musk speculation grows

    June 4, 2025
  • Startups

    Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik

    July 1, 2025

    Morgan Stanley terminates Fintech private banking activities valued at 19.1 INR

    July 1, 2025

    Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

    June 30, 2025

    The emerging phase of competition in India’s fintech sector

    June 30, 2025

    Argentinian Fintech Tapi acquires a Mastercard division in Mexico.

    June 29, 2025
  • finjobsly
fintechbits
Home » AI Industry Uses Light Pressure to Educate Congress on Business Perspective
AI in Finance

AI Industry Uses Light Pressure to Educate Congress on Business Perspective

5 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
8268632d19a6a5c246b6eab8bc8a0e3a.jpeg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

WASHINGTON (AP) — The artificial intelligence The industry has been on a lobbying spree in recent years, deploying dozens of hired influencers to help shape potential government action.

This growth is not surprising. The technology is being rapidly adopted by powerful industries – healthcare, defense, financial services – all hoping to have a say in any future regulations.

As AI evolves at a rapid pace, lawmakers are relying on the expertise of lobbyists as think tanks, nonprofit groups and academia struggle to keep up with minute-to-minute technological changes.

Relying on PowerPoint slides and briefing papers, AI industry lobbyists spend a lot of time with lawmakers and staffers, advising them on the ins and outs of the technology.

The campaign has been a success, according to lawmakers and lobbyists who point to the lack of movement on any legislation to regulate AI, one of the most complex and vexing policy issues facing the federal government.

What’s happening?

Washington lobbyists have been rushing to recruit clients interested in AI, a sign that the technology is growing and that Congress is struggling to figure out how best to regulate the sector.

According to a study by Open Secretsa watchdog that monitors money in politics, the number of organizations lobbying on AI has climbed to 460 in 2023, an increase of more than 190% from 2022. The number of organizations has increased slightly to 462 in 2024. The groups behind these lobbyists include the main companies or commercial organizations behind the AI ​​boomfrom business networks such as the Chamber of Commerce or the Business Roundtable to companies such as Microsoft, Intuit and Amazon.

One of the main reasons for this growth is that AI touches many different aspects of life, from healthcare and education to national security and the risks of disinformation.

AI companies seek to stifle EU-style regulation

The main goal of most of these lobbyists is to convince Washington that fears around AI are exaggerated and that the United States does not need to follow the European Union, which adopted a first-of-its-kind regulation earlier this year with the law on artificial intelligence.

“The recurring theme is that we should not do what the EU did. The most common phrase is: ‘The EU is a regulatory superpower,’” said Rep. Don Beyer. Virginia Democrat focuses on AI“I have yet to hear anyone defend the EU.”

Congress has so far taken a cautious stance on artificial intelligence. The legislation is unlikely to pass either chamber before the November elections, something some lawmakers say is necessary because of the way AI, using complex computer technology, can create credible but falsified images, sounds and videos, leading voters to question what they see and hear and undermining confidence in elections.

How do they do it?

AI lobbyists spend a lot of time simply explaining how the technology works.

As these lobbyists continue to hold events in the capital and fill campaign accounts with money, they are focusing on educating members of Congress, presenting themselves as a resource for information on the evolving industry.

“When it comes to AI, we’re pushing on an open door” in Congress, said Craig Albright, a top lobbyist and senior vice president at The Software Alliancea trade group whose members include Microsoft, OpenAI and IBM. “They want to be educated.”

Albright called the work “the main thing we do.”

Varun Krovi, a tech lobbyist, said such educational campaigns are effective because they create a level of rapport and trust between lobbyists and lawmakers.

“It’s a powerful way to build and solidify your relationship with these members and staff because you’re not asking them to support Bill X or oppose Bill Y,” said Krovi, manager of government relations and public policy at the Center for AI Safety Action Fund.

“You actually step back and say we’re here to answer all your technical questions and you need to listen to us. That’s incredibly powerful,” Krovi said.

One reason for this power, skeptics of AI regulation say, is that outside entities, such as universities and nonprofits, can’t keep up with the AI ​​companies and trade associations that influence Congress. Members of Congress are more willing to listen to representatives of well-known tech companies than to more impartial experts, academics say.

Where are the think tanks and academia?

At this point, Congress is hearing mostly from industry-related lobbyists, lobbyists and academics say. Universities and nonprofits, which provide unbiased research and analysis on issues ranging from AI deployment to the threat it poses to society, can’t keep up with the technology’s developments. The most cutting-edge work is being generated by for-profit companies, which can afford the best equipment and researchers.

“It’s very difficult for academia to counteract this massive level of lobbying,” said Max Tegmark, a research professor of artificial intelligence at the Massachusetts Institute of Technology. “It’s a bit like trying to explain something to someone else in the front row of a heavy metal concert.”

MIT and other organizations have hosted meetings with members of Congress on the topic of AI. MIT hosted lawmakers in Boston and offered similar briefings in Washington over the past two years. Nonprofits have tried to do the same.

“We’re trying to keep up, but… academia is facing a huge challenge: access to computing resources. That’s one of the issues that industry is facing right now,” said Asu Ozdaglar, Head of the Department of Electrical Engineering and Computer Science at MIT. “We continue to improve, we do research… but to stay in the race, we need to have access to these resources.”

___

The Associated Press receives financial support from the Omidyar Network to support coverage of artificial intelligence and its impact on society. The AP is solely responsible for all content. standards to work with philanthropic organizations, a list of supporters and funded coverage areas at AP.org

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

July 1, 2025

How Additiv employs AI to transform financial services

July 1, 2025

The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.

July 1, 2025
Leave A Reply Cancel Reply

Latest news

Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

July 1, 2025

How Additiv employs AI to transform financial services

July 1, 2025

Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik

July 1, 2025
News
  • AI in Finance (1,313)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (871)
  • Technology Innovations (151)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,313)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (871)
  • Technology Innovations (151)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.