Senate introduces ‘Industries of the Future’ bill to fund $10B annually for AI, biotech, quantum breakthroughs

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 Proposed ‘Industries of the Future Coordination Council’

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:

• Provide the Director with advice on ways in which in the Federal Government can ensure the United States continues to lead the world in developing emerging technologies that improve the quality of life of the people of the United States
• Increase the economic competitiveness of the United States
• Strengthen the national security of the United States

The Industries of the Future Coordination Council would be composed of the following members:

• One member appointed by the Director
• One member appointed by the Director of the Office of Management and Budget
• A chairperson of the Select Committee 6 on Artificial Intelligence of the National Science and Technology Council
• A chairperson of the Subcommittee on Advanced Manufacturing of the National Science and Technology Council
• A chairperson of the Subcommittee on Quantum Information Science of the National Science and Technology Council
• Such other members as the President considers appropriate

Industries of the Future Hearing with High Ranking Officials

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:

• Artificial intelligence
• Advanced manufacturing
• Quantum information science
• Biotechnology
• Developing the next generation of wireless networks and infrastructure

High ranking government officials are slated to appear in Wednesday’s hearing. The current lineup consists of:

• Michael Kratsios, Chief Technology Officer of the United States, Office of Science and Technology Policy
• Walter Copan, Director, National Institute of Standards and Technology, Department of Commerce
• France Córdova, Director, National Science Foundation
• Michael O’Rielly, Commissioner, Federal Communications Commission
• Jessica Rosenworcel, Commissioner, Federal Communications Commission

Witnesses will discuss research and development investments, regulatory changes, and workforce training needed to ensure continued economic growth and job creation in America.