Commerce Department partners with major VC firms encourage startups to be “responsible” in AI use

General Catalyst managing director Hemant Taneja (Credit: Noam Galai)

As debate over regulating artificial intelligence roils Congress, the U.S. government will enter into a voluntary agreement with leading venture capital firms to encourage early-stage startups to develop AI responsibly.

“We need to have a framework of accountability, explainability, transparency," Hemant Taneja, managing director of venture capital firm General Catalyst and founder of the think tank leading the initiative, said at Fortune’s CEO Initiative Tuesday.