The emergence of AI has led to concerns about its impact on society, leading to calls for regulation. Efforts to regulate AI should address issues such as data privacy, bias, transparency, accountability, and standards. However, the central question is how to align AI-based decisions with human values. To achieve this, robust institutions for disclosure and auditing are needed. An independent standards body should oversee Generally Accepted AI Principles, and regulatory agencies should enforce them. Companies developing advanced AI should disclose the methods by which they control AI and the metrics they use to measure success. Disclosure requirements should apply to smaller companies as well. Regulations should focus on disclosure of current monitoring and best practices to learn how these systems work, how best they can be managed, and what the systemic risks might be.
