Craig Albright, President Trump, Washington discussed on Bloomberg Markets
Greg Jarrett. You're listening to Bloomberg markets with Lisa Abramowicz impulse weenie on Bloomberg radio. We are broadcasting live from the Bloomberg interactive brokers studios. President Trump is expected to sign an executive order today that will direct the US government prioritize artificial intelligence in its research and development spending. A key question. How will this affect the software industry is this a welcome development. How much money could get funnel joining us now Craig Albright, vice president for legislative strategy with the Software Alliance based in Washington DC lobbying organization for software industries, Craig we really appreciate you being here. I'm just wondering starting with this executive order that President Trump is expected to sign today. What's your sense of exactly how much money it could unleash and how beneficial it could be potentially to the software industry? Lisa. Thanks for the question. Thanks for having me on you know, we'll see the executive order isn't out yet. And and we'll see when it comes out. I think it'll be very welcome in the sense that he misses is trying to prioritize RND in artificial intelligence. I mean step one is getting a mapping of where is the research being done in the government. Are there things that could be scaled or the things to be it can be combined? So it's really welcomed that the administration is going to be putting out something to be able to prioritize artificial intelligence are. So crazy software industry thinks about its policy priorities in two thousand nine hundred nine clearly data privacy, data security, data integrity issues that must be right at the top of the list, certainly for consumers. What is your sense as to how much the software industry writ large favors any type of regulatory oversight of data privacy? Thanks for the question. The separate issue completely supports oversight of data privacy. I mean, most of our companies have called for comprehensive federal privacy legislation for a number of years. I mean, the the reality is the technology moves a lot faster than policy and on this issue in issues across the board. What we do is we push to try to give policy to catch up. There's been an explosion of what we call the data economy. Every industry is relying on data. Businesses of all sizes are relying on data to try to compete, and there's just a a lot of data available and a lot of data services that come along with that. And there's questions about how is this data being used and those are natural questions in terms of our companies we strongly support federal legislation comprehensive federal legislation. We think we need a strong federal standard that can be established and give people confidence and provide long term stability to the market. So these products, so Craig what has been the roadblock to getting these. These policies implemented is simply to social media platforms themselves, the Facebooks of the world pushing back. Well, I think what we've seen is a real crescendo of the of the last several months the continues to build into the where where it is. This time seems to be actually building there's bipartisan support, and we have a group of four senators in the Senate who are who are digging in, you know, it's clearly a priority for a variety of members of congress. So we see some fresh momentum behind this and and being a priority for for this coming year, Craig it's interesting because you're talking about how legislative involvement in the software industry can be a positive. I'm just wondering where you're concerned from your constituencies where they're standpoint in terms of oversight and regulation and trying to crack down on a variety of different practices. I mean, where do you see where do you see that influence coming in? Concerned it our industry has is not strong privacy protections because they're in our industry has is that what laws come out or sometimes really messy and ambiguous and can actually conflict with itself. And so what we're hoping is that in the at the federal level. We can have a process that serious gets a lot of input and can have very strong, clear federal standards, and then we can have one clear federal standard as opposed to letting states experiment, and which may be experimenting with ideas that are sound when they actually execute their. They may not be workable. So our hope is that we can achieve a lot that's workable who benefits from the system being maintained the way it is right now. Well, we think that if we pass federal privacy legislation. It's win win win for everyone. I mean consumers want to understand how the data's being used our companies our businesses they want long-term predictable stability in markets for the services they provide. So there's a real win for companies as well if you can establish these high standards that people are comfortable with and give them confidence in how these services are being used. It's helpful to the government because they have a clear standard, and they can enforce to it. So we we see the possibility of federal privacy legislation as as having positive is it can be done in the right way. So Craig the US trade delegation is back in in China this week and clearly one of the big issues on the table is technology, whether it's data theft or technological espionage. What do you and your software constituents believe will come out if anything out of these trade negotiations in terms of tech? Well remains to be seen. You know? We're we're looking at media reports like like, you are sort of waiting to see if there can be an agreement. I think you know, there's there's different understandings of of how far along they may be. But I think what we would like to see again is is long term stability to the markets and technology is certainly being discussed. But in terms of where the terrorists are being applied. And where some of the rhetoric is coming from. You know, we're we're more observers in this space, and in our hope is that solution and get out of a trade war. Excellent Craig Albright. Thank you so much for the update on policy trends for the software industry. Craig is the vice president legislative strategy BSA the Software Alliance based in Washington DC, Craig thanks so much for joining us. I think the big issue coming out of here is going to be some of these tech issues. And I don't think that we're going to get any meaningful movement at these these trade talks disappointed that's kind of where it's heading. Let's head to our ninety nine. One studios in Washington DC to Nathan Hager for world and national headlines Nathan where talks over border security, Paul will continue this afternoon at congressional negotiators.