Biden Admin Exceeds 90-Day AI Order Requirements
The Biden Administration has taken significant actions on AI in the 90 days since the executive order, exceeding the requirements and making progress on goals like assessing AI risks, attracting AI talent, and protecting Americans.
Summary
- The administration released a fact sheet outlining key AI actions in the 90 days after Biden's executive order on AI.
- Actions include convening the White House AI Council to hear implementation progress reports.
- The Defense Production Act was used to urge AI companies to report safety test results and computing capabilities to the Department of Commerce.
- A draft rule was proposed asking US cloud companies to report if they provide computing power for foreign AI model training.
- Nine federal agencies completed AI risk assessments covering use of AI across all critical infrastructure sectors.
- New efforts are focused on streamlining recruitment of international AI talent.
- The National Science Foundation partnered with Nvidia to advance AI.
- An AI task force was launched at the Department of Health and Human Services to develop health care AI policies.
- Analysts highlight significant outflows from Grayscale's Bitcoin trust GBTC after it converted to a spot ETF, impacting Bitcoin's price drop.
- GBTC remains the largest Bitcoin ETF but fees are higher than competitors.
- FTX sold its 22 million GBTC shares worth nearly $1 billion after the ETF conversion.
- Investors seem to be moving to lower fee Bitcoin ETFs from traditional finance providers.