Key Takeaways:
- The House of Representatives passed two bills, the AI for Main Street Act and the Artificial Intelligence Wisdom for Innovative Small Enterprises Act, to help small businesses adopt artificial intelligence (AI)
- The bills require the Small Business Administration (SBA) to provide guidance, training, and outreach to small businesses on evaluating, adopting, and using AI
- The bills aim to support small businesses in using AI tools responsibly and effectively, and to provide them with the same access to expertise and support as large corporations
- The bills will help small businesses understand how AI tools work, evaluate the risks and benefits, protect privacy, and decide whether to adopt the technology
Introduction to the Bills
The House of Representatives passed two significant bills on Tuesday, January 20, that aim to support small businesses in adopting artificial intelligence (AI). The AI for Main Street Act (HR 5764) and the Artificial Intelligence Wisdom for Innovative Small Enterprises Act (AI-WISE Act; HR 5784) were sponsored by Rep. Mark Alford, R-Missouri, and Rep. Hillary Scholten, D-Michigan, respectively. According to Rep. Alford, "Main Street stands at the doorstep of a major transformation because the AI revolution isn’t just coming, it’s already here." He emphasized the importance of ensuring that entrepreneurs and job creators are not left behind in this transformation.
The AI for Main Street Act
The AI for Main Street Act requires the SBA’s Small Business Development Centers to provide guidance, training, and outreach to help small businesses evaluate, adopt, and use AI. This bill aims to support small businesses in using AI tools responsibly and effectively. As Rep. Alford stated, "We’re ensuring entrepreneurs and job creators aren’t left behind." The bill passed the House on a vote of 395 to 14, indicating strong bipartisan support. By providing small businesses with the necessary guidance and support, the AI for Main Street Act can help them to harness the power of AI and stay competitive in the market.
The Artificial Intelligence Wisdom for Innovative Small Enterprises Act
The AI-WISE Act, on the other hand, requires the SBA to add AI literacy resources to its existing online learning platform. These resources will help small businesses understand how AI tools work, evaluate the tools’ risks and benefits, protect privacy, and decide whether to adopt the technology. Rep. Scholten emphasized the importance of these resources, stating that they will help small businesses "evaluate new technologies, protect their data and use AI in ways that actually make sense for their operations." The AI-WISE Act passed the House by a voice vote, demonstrating the strong support for this initiative.
Supporting Small Businesses in the AI Revolution
Both bills recognize the significance of AI in transforming the economy and the need for small businesses to have access to the same expertise and support as large corporations. As Rep. Scholten noted, "These bipartisan bills will support small businesses as AI reshapes our economy by ensuring Main Street has the same access to expertise and support as large corporations." By providing small businesses with the necessary guidance and support, these bills can help them to navigate the AI landscape and stay competitive. According to a report by PYMNTS, AI enables small businesses to leap into an AI-first business model that can rival what large incumbents offer by automating processes, augmenting talent, and accelerating decision-making.
Next Steps
The bills now head to the Senate for consideration, where they will undergo further review and debate. If passed, these bills can have a significant impact on the ability of small businesses to adopt and use AI effectively. As Rep. Scholten stated, "The bills will give our small businesses much-needed tools to evaluate new technologies, protect their data and use AI in ways that actually make sense for their operations." By supporting small businesses in their adoption of AI, these bills can help to drive innovation and growth in the economy, and ensure that small businesses are not left behind in the AI revolution.
House Passes Bills Requiring SBA to Help Small Businesses Adopt AI
