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Visa, Mastercard, JP Morgan, Citi among companies to attend US AI Safety Consortium

As part of the Biden Administrations efforts to regulate AI, over 200 organisations have agree to attend the US AI Safety Institute Consortium (AISIC), including Nvidia, OpenAI, Apple, JP Morgan, and Amazon.

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Visa, Mastercard, JP Morgan, Citi among companies to attend US AI Safety Consortium

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US Commerce Secretary Gina Raimondo announced that the consortium will take place at the US AI Safety Institute and join together officials, academics, developers, and industry regulators to guide on the advancement of AI products and services.

Raimondo stated: “The U.S. government has a significant role to play in setting the standards and developing the tools we need to mitigate the risks and harness the immense potential of artificial intelligence. President Biden directed us to pull every lever to accomplish two key goals: set safety standards and protect our innovation ecosystem. That’s precisely what the U.S. AI Safety Institute Consortium is set up to help us do.”

The Biden Administration has been pushing for AI regulation, in setting transparency laws and standards for Big Tech and calling for watermarking on AI-related content. Biden previously released an executive order on this issue. The US is also working to curb the spread of AI-generated false images and deepfake videos in a federal bill proposed by the Senate.

Amazon has pledged $5 million in compute credits to USAISI in support, pushing for global public policy to be developed with a safe and secure foundation.

Bruce Reed, White House Deputy chief of staff said: “To keep pace with AI, we have to move fast and make sure everyone – from the government to the private sector to academia – is rowing in the same direction."

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