White House Launches ‘Time is Money’ Campaign to Combat Time-Wasting Chatbots

The recent initiative launched by the Biden administration aims to address consumer time-wasting practices within businesses, with a specific focus on customer service chatbots. The "Time Is Money" campaign, overseen by the Consumer Financial Protection Bureau (CFPB), seeks to eliminate unnecessary hurdles in people's lives that diminish their quality of life. One key aspect of this campaign involves cracking down on businesses employing chatbots inappropriately.

The government intends to target chatbots that deceive consumers by using AI-generated voices to mimic human interaction. In response, the CFPB will take action against financial institutions and banks that utilize ineffective and time-consuming chatbots instead of providing genuine customer service. While acknowledging the benefits of chatbots for handling basic inquiries, the government emphasizes the importance of using technology to enhance customer service rather than evade essential responsibilities like issuing refunds.

Apart from addressing chatbot misuse, the campaign also tackles issues such as difficult subscription cancellations and introduces new automatic refund regulations for airlines to reimburse travelers for canceled flights. This initiative follows a recent CrowdStrike outage, underscoring the need for improved consumer protection measures. The public is encouraged to share additional ideas for combating these challenges.

Despite these efforts, the U.S. Chamber of Commerce expressed concerns about increased regulatory burdens, contending that government intervention may lead to higher costs for consumers. The Chamber's chief policy officer emphasized that businesses are typically more adept at delivering responsive customer service and efficient processes compared to government entities. He cautioned against heavy-handed regulations that could potentially escalate operational costs for businesses, which might eventually be passed on to consumers.