President Biden Issues Executive Order on AI Development and Use

According to CoinDesk, President Joe Biden has issued an Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (AI) to address potential threats posed by AI. The order states that responsible AI use can help solve urgent challenges and make the world more prosperous, productive, innovative, and secure. However, irresponsible use could exacerbate societal harms such as fraud, discrimination, bias, and disinformation; displace and disempower workers; stifle competition; and pose risks to national security.Vox's Sara Morrison describes the order as an ambitious attempt to accommodate the hopes and fears of everyone from tech CEOs to civil rights advocates, but notes that the execution of Biden's vision will depend on the actions of executive branch agencies, which could face legal challenges. The legislative branch is also working on its own plans for regulating AI. Jeff Amico, former a16z partner and current Gensyn Network Head of Operations, criticized the order's reporting requirements as being too burdensome for startups building large models. He also argued that the order treats computing power, an inherently neutral technology, as a dangerous resource that must be regulated. Meanwhile, AI-related tokens have experienced a decline, with The Graph's GRT, Fetch.AI's FET, SingularityNET's AGIX, and Ocean Protocol's OCEAN all down 4%-7%.