Tech industry keeps outracing the government

While CEOs of the companies leading the AI wave met at the White House on May 4, the leaders of the Biden administration's antitrust campaign against tech giants were also gathering for a stock-taking a few blocks away. In each arena, the industry has so far lapped its would-be regulators — but at least with AI, the race is still young. The White House AI event marked the administration's strongest effort yet to keep up with a massive wave of technological change that's just getting started. However, the campaign to rein in Big Tech's power has little to show so far, after five years of hearings and lawsuits. Meanwhile, rising calls to regulate AI are prompting cautionary discussions earlier in the cycle of tech adoption than happened with social media — but the industry is moving a lot faster, too. Additionally, on the AI front, the Biden Administration is moving slowly on AI guardrails: urging CEOs to do better but avoiding the rules-based approach of Brussels and Beijing — where officials are finishing a second round of generative AI regulation.