Argentine President Javier Milei argues that generative AI must be developed freely, avoiding premature regulations that could stifle innovation.
He compares AI to the Industrial Revolution, emphasizing that an appropriate legal framework can drive economic growth, similar to the limited liability company model introduced in 1602.
According to the article, global GDP has increased more than 200 times, per capita income has risen 15 times, and the world population has grown 15 times since the emergence of the limited liability company model.
Milei believes that AI-operated entities should enjoy a limited liability mechanism similar to traditional businesses.
The Argentine government has submitted a bill to Congress to establish a dedicated legal framework for AI deployment.
The first pillar is to maintain a near-unregulated environment for AI to foster experimentation and development.
The second pillar is the creation of a new type of legal entity called a “non-human corporation.” These enterprises can be operated by AI agents or robots without requiring human shareholders.
Milei asserts that limited liability is a prerequisite for AI systems to operate in real-world environments with inherent risks.
The third pillar is building a competitive tax environment to attract global AI companies.
Non-human corporations will be subject to low corporate tax rates. Shareholders can choose suitable corporate governance laws instead of being restricted to a single framework.
The government requires disclosure of ultimate beneficial owners to prevent illegal capital flows.
Argentina aims to transform Buenos Aires into a global AI hub, similar to the role Amsterdam played in the 17th century.
📌 Conclusion: Argentina is pursuing a bold strategy to become a leading destination for generative AI through three core policies: limiting premature regulation, recognizing “non-human corporations” operated by AI agents or robots, and implementing a competitive tax environment. President Javier Milei believes this model could generate an economic leap similar to the impact of the limited liability company since 1602. In parallel, Argentina emphasizes economic reforms, inflation control, and an improvement of 20 places in the Economic Freedom Index during the 2024–2025 period to attract global AI investment capital.
