New AI legislation in Congress

Newsletter for October 2, 2024

No question cyber is a key industry in the Baltimore and DMV regions, but despite the sector's prominence, there are significant workforce demands that could slow economic growth. Read more below about how the region might handle a new monumental investment, and an AI regulation bill pending in Congress.

Plus, some thoughts from EcoMap's first SuperConnect — and how a conference can also be a tribute. Keep scrolling for all the details.

— Kaela, Technical.ly lead reporter in Baltimore and DC

Craig Newmark, the philanthropist and founder of Craigslist, recently announced a $100 million investment to better the nation's cyber preparedness. But in and around the nation's capital, one of the country's major cyber hubs, there are thousands of jobs needed to be filled.

Cyber attacks have become incredibly frequent, and attention like the pledge from Newmark should be a positive sign. But the high demand for workers in the field and the lack of talent could have consequences in the region, Technical.ly CEO Chris Wink writes.

➡️ Read more about the workforce gaps in cyber here

The Consumers LEARN AI Act would foster collaboration between public and private sector leaders to determine what people need to know to be AI literate, writes Technical.ly reporter-at-large Holly Quinn.

The ultimate goal of the bill is more awareness and understanding.

“AI is already here and happening around us, whether it’s the chatbots you use while online shopping, or virtual assistants like Siri or Alexa,” Rep. Lisa Blunt Rochester, one of the leaders behind the bill, told Technical.ly. “We want people to be able to take advantage of the benefits of AI, but also be protected when using it.”

➡️ Get the details about the new act here

How will investors and venture capital markets react to the presidential election? J.P. Morgan’s midyear outlook has insights on what it will mean for the innovation economy. It’s one factor among several that are interrelated — including interest rates and other economic indicators.

See how they all come together for venture fundraising, investment, valuations and the exit environment in the report by J.P. Morgan’s co-heads of innovation economy, John China and Melissa Smith, who is also head of specialized industries at the global firm’s commercial banking division.

➡️ Read the innovation economy report from startup banking experts

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• EcoMap's first conference SuperConnect brought together local leaders in tech and entrepreneurship last week, about one year after its cofounder Pava LaPere was violently killed. The event offered more than panels and keynotes, our CEO Chris Wink writes: It was also a tribute to Pava's legacy. [Technical.ly]

• South Baltimore steel company Marlin Steel Wire Products is pivoting its business model to manufacture medical devices. [Baltimore Biz Journal]

• Dockworkers along the East Coast, including at the Port of Baltimore, are on strike calling for higher wages and other demands. Experts say it could snarl supply chains, but effects won't be noticed for a few weeks. [Associated Press]

• Skills gaps in Maryland, DC and Virginia continue to include manufacturing and AI, despite a high demand in both sectors, according to a new report about the future of the workforce in the area. [Greater Washington Partnership]

• Oriole Park at Camden Yards is getting $135 million in renovations, including a new video board. [Baltimore Banner]

• Residents in Baltimore and the surrounding counties are most worried about crime and the state and local economy, according to data from a new survey. [Maryland Matters]

• Sinclair, the media giant headquartered in Baltimore County, is partnering with local software company Mindgrub to launch a spatial computing tool for "displaying interactive news maps" and other "immersive" environments for the network's local news. [Sinclair]