💡"There's this false idea that you have to choose between scale and responsibility," says Bansal. "But increased responsibility will give you more durability as you scale."
Read more from @BenLucasSherry in @Inc - https://t.co/nu8Ex2oJY9
I wrote many months ago that a major VC trend will be “Responsible Investing” - companies who have ethics and social impact/responsibility built into their fundamentals.
As AI enters almost every domain of technology and society, it becomes necessary for us to take leadership as investors and founders, and commit to building Responsible AI companies. And @ResponsibleLabs is putting a framework forward for doing just that.
Proud to be a signatory on voluntary Responsible AI commitments as Lux Capital.
On Responsible Investing - https://t.co/uRlkFg7sgP
Base10 is proud to support the @ResponsibleLabs Responsible AI commitments aimed to support a thriving and competitive startup ecosystem. The protocol released today will help us and our portfolio companies drive the next generation of AI Innovation
https://t.co/hK9ocbwY9B
"The partnership is 'what we think is the first set of industry-driven responsible AI commitments and protocols really built for the startup and early-stage companies and investors who back them,' Gaurab Bansal, executive director of RIL, told Axios."
https://t.co/EWC4JVUNUj
Today, 35+ VC firms, with another 15+ companies, representing hundreds of billions in capital have signed the voluntary Responsible AI commitments from @ResponsibleLabs (RIL), the non-profit I co-founded. As Chairman of RIL, I’m proud to unveil this today with tech leaders and Commerce Secretary Raimondo in San Francisco. This group includes (among others): @AntlerGlobal, @itsArthurAI, @BainCapVC, @Base10Partners, @CredoAI, @felicis, @FordFoundation, @generalatlantic, @generalcatalyst, Generation Investment Management, @InflectionAI, @insightpartners, @intelcapital, @IVP, @KinnevikAB, @Lux_Capital, @MayfieldFund, @Radicalvcfund, @RibbitCapital, @SoftBank, and @XYZ_vc.
These commitments include:
1. A general commitment to responsible AI including internal governance
2. Appropriate transparency and documentation
3. Risk & benefit forecasting
4. Auditing and testing
5. Feedback cycles and ongoing improvements
In addition to the Commitments, we are publishing a 15-page Responsible AI Protocol, a practical how-to playbook to help investors and start-ups alike fulfill the commitments. Since April, our steering group of cross-societal AI experts has worked hard to understand the unique considerations and relevant and realistic standards for technologists at any stage. We strongly believe in the power of AI to transform our world for the better. Our role as investors is to advocate for our startups and the innovation economy from day 1.
Everybody saw the executive order last month–the reaction in the Valley has generally been to denounce it. The reality is that right now it’s largely just reporting requirements. However, there is a risk that devolves into regulation that slows innovation down and makes America and its businesses uncompetitive. But the right path forward is to not be antagonistic towards D.C. We in the Valley need to learn that this is not about regulation vs. innovation, but about innovation at the intersection of technology, policy, and capital.
We have to embrace collaboration with our elected leaders. And as investors, we must hold ourselves accountable for what we fund and found. I want to commend the RIL team and committee for engendering trust and creating space for feedback, including with the Commerce Department and the White House.
We are facing what is likely the quickest adoption of any new technology ever in AI. It’s difficult to think about the regulatory frameworks that protect the pace of innovation as well as protect against any nefarious use cases of technology. While we all learn how this role of technology evolves, it’s important for us to be intentional about the mindset and mechanisms used in building early stage companies, as both investors and founders. We can’t wait or kick the can down the road.
We hope to see more venture firms and startups embrace this mindset, and encourage more to consider signing: https://t.co/kbr7O9SUpE
🚀 Today, we launch our Responsible #AI Commitments and Protocol for Startups + Investors. And we announced the first 35+ investors signing onto this effort. Bloomberg News thoughtfully captures our coalition's mission + work to launch this first industry-driven protocol.
Check out @radicalvcfund's new framework. We are happy to have Radical Ventures as part of a growing coalition of leading investors and founders signing the Responsible AI Commitments. You can learn more about our work here: https://t.co/D9cSkDubZ8
As underwriters of tomorrow’s innovations, venture capital needs a framework for responsible AI investing. Today Radical Ventures is pleased to share its Responsible AI for Startups (RAIS) framework - an open source resource for investors evaluating investments in AI technologies developed in partnership with @VectorInst. https://t.co/6vLDmpUymy
RIL, the AI-focused group that's partnered w/ several top VC firms, says it "applauds the Biden Administration for today’s executive order outlining guidance, resources, and funding for safe, secure, and trustworthy AI technologies."
Background: https://t.co/oWAkL0lYYv
🌎 In this week's edition of What's Happening in AI: AI ‘off-switch’ for Europe, AI can’t hold copyright, and a surge in new releases and founder interviews.
Check it out: https://t.co/vFEvV39duX
🌎 In this week's edition of What's Happening in AI: Proposed rules follow Executive Order, first-of-its-kind AI bias lawsuit, GPT-4 for content moderation, AGI in 2-3 years, and more.
Check it out: https://t.co/28tuBNZqcY
As part of our Responsible #AI work, every week we put together what we’re reading on AI – from the latest in policy, to the future of AI, to responsible practices.
Check out this week’s edition - https://t.co/GzESlIYzZm
Recent banking crises have highlighted the need for good, risk-aware treasury management practices for startups. We created this Treasury Management and Risk Guide with best practices and tips for company-builders.
Check it out here - https://t.co/w8XDhJbIaU
We’re organizing an intimate roundtable with @AllTechIsHuman + a group of cross-sector experts on #AI. We'll discuss how to shape shared guardrails for the design, development, and deployment of AI systems.
Let us know if you'd like to join in NYC:
https://t.co/0LRgGd8oqv