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House Minority Leader Jeffreys: If Democrats win the House election, they will prioritize artificial intelligence regulation.On September 15th, according to a Senate aide and a lobbyist familiar with the negotiations, US Senate negotiators are discussing an artificial intelligence regulatory bill that could require AI companies to prove they have taken reasonable precautions to prevent their tools from causing harm. Senators are reportedly discussing whether to grant the US Secretary of Commerce the power to require AI developers to demonstrate they have taken reasonable steps to prevent harm, the so-called "duty of care." They indicated the Secretary of Commerce might also be granted the power to send government inspectors to test companies products. It is currently unclear what measures will be considered "reasonable." The bill is still under discussion, and even if Congress passes it, its eventual enactment as law remains highly uncertain.On September 15th, US President Trump stated regarding AI that, throughout business history, when has an industry leader ever called for regulation that, if strictly enforced, could lead to their demise and bankruptcy? Claims that artificial intelligence will take over the world, destroy humanity, and all other negative narratives about AI are "hoaxes." Google recently expressed its desire to build a large factory in Finland because it believes obtaining the necessary permits in the US is too difficult. I am not satisfied with this and hope they change their minds. Artificial intelligence and data centers will become the greatest engines of economic development in history—surpassing oil, gold, diamonds, and even the internet. During my presidency, the development of artificial intelligence will not be hindered by any "carefully orchestrated destructive forces."Bank of America (BAC.N) CEO Moynihan: If interest rates rise sharply, it will slow down some of the funding demand.US President Trump: Artificial intelligence will not be stopped by those destructive forces during my presidency.
