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26 Vand. J. Ent. & Tech. L. 1 (2023)

handle is hein.journals/vanep26 and id is 1 raw text is: Regulation Priorities for Artificial Intelligence Foundation Models Matthew R. Gaske* ABSTRACT This Article responds to the call in technology law literature for high-level frameworks to guide regulation of the development and use of Artificial Intelligence (AI) technologies. Accordingly, it adapts a generalized form of the fintech Innovation Trilemma framework to argue that a regulatory scheme can prioritize only two of three aims when considering Al oversight: (1) promoting innovation, (2) mitigating systemic risk, and (3) providing clear regulatory requirements. Specifically, this Article expressly connects legal scholarship to research in other fields focusing on foundation model Al systems and explores this kind of system's implications for regulation priorities from the geopolitical and commercial competitive contexts. These models are so- named because they have a novel ability to easily apply their resources across a broad variety of use cases, unlike prior AI technologies. These systems, such as OpenAl's ChatGPT or Alphabet's LaMDA, have recently rocketed to popularity and have the potential to fundamentally change many areas of life. Yet, legal scholarship examining AI has insufficiently recognized the role of international and corporate competition in such a transformational field. Considering that competitive context and the Trilemma, this Article argues from a descriptive perspective that solely one policy prioritization choice is needed: whether to emphasize systemic risk mitigation or clear requirements, given that prioritizing innovation is effectively a given for many governmental and private actors. Next, regulation should J.D., Vanderbilt University Law School, 2016; M.B.A., University of Michigan Ross School of Business, 2023. The views expressed in this Article are the author's and are no indication of the views of any employers or institutions to which the author has, had, or will have an affiliation. While the author works or has worked with an early-stage venture capital firm focusing on artificial intelligence and similar subject matter, he neither has nor had a financial interest in that fund or its investments. 0 2023, Matthew R. Gaske. Thank you is particularly warranted to Yesha Yadav, Daniel Sokol, Brian Wu, Cheng Gao, and the VANDERBILT JOURNAL OF ENTERTAINMENT AND TECHNOLOGY editorial team. 1

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