Comparing AI Labs and Pharmaceutical Companies

Many people have investigated regulators like the FDA to get inspiration for how to regulate AI. I wrote this piece to give people a sense of striking differences between AI Labs and Pharmaceutical companies.

Key points:
- approximately 50-90% of total R&D costs in drug development are invested in quality and safety measures
- drug development occurs within an multiparty ecosystem and is far from being run by a single entity.
- pharmaceutical companies don't declare products as safe - they declare them safe in a certain scope
- drug developers do statistically reliable hypothesis testing about real-world risk