The Senate introduces the Industries of the Future bill, which would fund $10 billion per year to research AI, biotech, and quantum sciences, among others, so the United States could maintain its global economic edge.
“A plan to double baseline investments in artificial intelligence and quantum information science by fiscal year 2022”
The Industries of the Future bill was introduced on Tuesday, just one day before the Senate Committee on Commerce, Science, and Transportation held a hearing of the same name.
“In order for the United States to maintain its global economic edge, Federal investment must be made in research and development efforts focused on industries of the future, such as artificial intelligence, quantum information science, biotechnology, and next generation wireless networks and infrastructure, advanced manufacturing, and synthetic biology,” reads a section of the bill.
If approved, the bill calls for a report with “a plan to double such baseline investments in artificial intelligence and quantum information science by fiscal year 2022,” as well as a “a detailed plan to increase investments in industries of the future to $10,000,000,000 per year by fiscal year 2025.”
A new council on future industries would also be established or designated by President Donald Trump. “The Industries of the Future Coordination Council” would advise the Director of the Office of Science and Technology Policy on matters relevant to the Director and the industries of the future.
The duty of the Council would be to:
The Industries of the Future Coordination Council would be composed of the following members:
Today, the Senate Committee on Commerce, Science, and Technology is holding a hearing aptly-named Industries of the Future.
The hearing is examining how the United States can maintain its global economic edge in:
High ranking government officials are slated to appear in Wednesday’s hearing. The current lineup consists of:
Witnesses will discuss research and development investments, regulatory changes, and workforce training needed to ensure continued economic growth and job creation in America.
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