David S. Rose argues for federal or state AI regulation over city rules
David S. Rose, a longtime New York tech entrepreneur and angel investor, argues AI is baked into every new company, needs regulation, but should be regulated federally or through coordinated states rather than city-by-city, warning city rules would destroy New York's tech leadership.
Speaker, Chair, members of the Council, my name is David S.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
Rose, and I think my background is important to understand for why I'm here.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
I founded my first technology company in New York City in 1981, more than 45 years ago, and I was a founding member of the New York New Media Association in 1991.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
Following the dot-com crash, I founded New York Angels, today one of the world's leading business angel networks with over 150 members that has funded over $180 million into more than 400 startups, creating thousands of jobs here in New York.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
I then founded the startup platform Gust, which was tapped by first Mayor Bloomberg and then Mayor de Blasio to create Digital.NYC, New York City's official online hub for the city's entrepreneurship ecosystem.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
Most recently, I'm the founder and CEO of the U.S.
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Real Estate Market, an AI-based liquidity platform for commercial real estate.
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Red Herring Magazine has described me as patriarch of Silicon Alley and Forbes as New York's archangel.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
At the same time, I have spent 20 years working on the future of technology and artificial intelligence as associate founder of Singularity University with Ray Kurzweil and Peter Diamandis, and today I serve as chairman of two applied AI companies.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
My testimony today is going to be brief, and it's about three fundamental facts that are the key takeaways I think we all need to have.
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Number one, artificial intelligence is today baked into the core of every single company starting up in New York City.
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And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
No investor today will invest in any company that does not explicitly show how they are using it as an essential foundation of their business.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
Number two, AI absolutely needs to be regulated because the power it has already unlocked, not to mention what is coming in the immediate future, is literally the big takeaway.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
development in the history of our planet since the emergence of humans.
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But really critical for the hearing today is number three.
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The most important thing for you to consider in your deliberations is that regulation absolutely needs to be done either at the federal level or at a coordinated state level as New York State has done with California in passing the RAISE Act.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
The challenge with imposing additional requirements at the city level, especially such as those considered in the bill here, will have the effect of literally destroying New York City's role as a tech leader.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
No company could afford to operate in New York.
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If you could just conclude and submit the full testimony, we have about seven more panels to go.
And you actually heard the deputy commissioner say that, that they can't find somebody inside of New York City to say that.
So we appreciate your time.
Thank you.
Thank you.