ICYMI: Chairman Scott Talks America’s Economic Future, Global Competitiveness on Walker Webcast

Washington, D.C. - Today, Senator Tim Scott (R-S.C.), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, joined Willy Walker, Chairman and CEO of Walker & Dunlop, for a candid discussion on America's economic future, artificial intelligence, and global competitiveness. During the discussion, Chairman Scott highlighted how America can grow in its role as the economic superpower of the world, and how artificial intelligence will continue to integrate into the American workforce.

Click here or on the image above to watch the full interview.

On America's role as the premier global economy:

"I think for us to be the economic superpower of the world, we have to get AI right. To get AI right means that the first regulatory questions we should wrestle with is not what is it and what will it do? I would personally, and this is where I've started, is wrestling with the question, who's our competition?"

On fostering an advantageous regulatory environment for export controls:

"And so, the regulatory environment that is foremost on my mind, particularly as the Chairman of the Banking Committee, is setting rules of the road on what they can have and what they can't have, which is consistent with what the White House is doing as well. And so, the regulatory environment that you'll first see come into clarity on the horizon will be how we treat China on export controls as it relates to chips."

On the role of artificial intelligence in the workforce:

"The one thing that will become in clearer focus is the role that entrepreneurs will play in the future of America… If you have critical thinking skills and you're intellectually curious, AI will help you create more jobs, in my opinion, long term than it will destroy.

"And so, I'm optimistic about where we can go. The next three to five years will be important for us, A, to beat China and B, to make sure that recent college graduates are actually optimistic and not pessimistic about the job market."

On business investments in South Carolina and across America:

"Boeing does. And that's one of the reasons why I think it's been so successful in South Carolina. 2009, the largest economic development announcement in all of America, Boeing decided to move more operations in South Carolina. Why? Our taxes are low. They should be lower, but they're low.

"Our workforce is hungry and competent. And so you put all those pieces together, you find that one of the greatest economic drivers of our export, probably the largest exporter in all of America, Boeing, makes lots of cool planes right here at home."