Yahoo Finance I’m an Economist: Here’s My Prediction for the Tech Sector If Biden Is Re-Elected
The tech sector is an undeniable juggernaut — and it’s only getting bigger.
Deborah Perry Piscione knows a lot about money and technology. She spent 18 years in federal policy, including working on Capitol Hill and the White House, and has now been in Silicon Valley for 18 years. She’s also the CEO of the Work3 Institute, an advisory firm based on the forthcoming Harvard Business Review book, “Employment Is Dead: How Disruptive Technologies Are Revolutionizing the Way We Work.”
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Here are her predictions about what might happen to technology in America if President Joe Biden becomes president again.
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Big Push for Clean Energy
Piscione thinks Biden will focus on making America a leader in clean energy.
“If Joe Biden were to secure re-election, his technology agenda would likely prioritize massive mobilization for clean energy dominance,” she said. This means the government might give more money to people and companies that use clean energy. They might also spend more money to invent new ways to make clean energy.
“The plan would likely include ambitious, legally-binding targets for electric vehicle adoption, coupled with a nationwide buildout of charging infrastructure rivaling the scale of the Interstate Highway System,” she added.
In simpler terms: more electric cars and more places to charge them.
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Better Internet for Everyone
Piscione believes Biden will try to make sure everyone in America can use the internet.
She thinks, “Biden might increase funding for rural broadband initiatives, support municipal broadband projects, and implement programs to make internet access more affordable for low-income households.”
The results? Helping people in the countryside and cities get better, cheaper internet.
Rules for Smart Computers
Piscione said Biden might make new rules about artificial intelligence (AI), which are very smart computers.
“This could include establishing an AI Bill of Rights to protect against AI-driven discrimination, creating a federal AI research agency to coordinate and fund AI development, and implementing guidelines for ethical AI use in both government and private sectors,” she shared.
In other words, she believes there would be a push to make sure AI is regulated.
Fixing Old Power Lines
Piscione mentioned that Biden might want to fix America’s old power system.
She said there might be an “[e]nergy upgrade for our 40-year-old grid as AI.”
In other words: new technology to make our electricity work better.
Clear Rules for Digital Money
Lastly, Piscione thinks Biden will make clear rules about digital money like Bitcoin.
She said we need “[r]egulation clarity for crypto and other digital assets in addition to AI, so we don’t lose the AI race like we did with semiconductor development.”
The goal would be to make sure America doesn’t fall behind in new types of technology.
Why This Election Matters
“The upcoming election represents a pivotal moment in which the inextricable link between politics, economic competitiveness, and technological advancement will be brought into sharp focus,” she said.
This means that who becomes president can affect how America does in technology and business.
“In essence, the upcoming election is not just about choosing a leader, but about charting a course for America’s technological future and, by extension, its place in the evolving global order.”
Voting for a president is also about choosing what kind of future we want for America’s technology.
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