With the issuance in October 2023 of a wide-ranging executive order on artificial intelligence (the AI EO), the Biden administration took its most significant action to date toward oversight of the development and use of AI technologies. In the absence of Congressional action in this area—which does not appear likely in the near or medium term—the AI EO represents a step toward laying the groundwork for future federal regulatory action by a broad swath of agencies and departments.

As the broadest indication to date of the Biden administration's priorities for AI regulation going forward, the AI EO suggests a variety of issues for boards of directors to consider, depending on their business and industry. Overall, the most consequential action boards can take right now may be ensuring that their corporate priorities are taken into consideration by the relevant decision makers during this formative moment for the regulation and oversight of AI technologies.