President Donald Trump signed an executive order on AI development on Thursday. Trump’s AI and David Sacks’ Crypto Czar said the US wants to be the AI capital of the world.
President Donald Trump wants his administration to have an artificial intelligence preparedness plan within 180 days.
On Thursday, the president signed an executive order calling for “maintaining and strengthening America’s global AI dominance.” Since returning to the White House on Monday, Trump has signed multiple executive orders on areas including energy, trade and immigration.
“We are essentially announcing the administration’s policy to make America the global capital of artificial intelligence and to dominate and lead the world of AI,” Trump’s AI and cryptocurrency czar, David Sachs, said Thursday. told reporters at the Oval Office.
Trump appointed Sachs, a venture capitalist and former PayPal COO, to the newly created position last month. When announcing his appointment, Trump said Sack would also lead the President’s Council of Advisors for Science and Technology.
Sacks is a member of a group known as the “Paypal Mafia.” This is a group of PayPal employees who have become famous in the world of Tech and Venture Capital. In addition to Sack, the group counts Tesla CEO Elon Musk and venture capitalist Peter Thiel.
“David is one of the greatest people in the world in AI, and probably the most respected,” Trump told reporters while signing the order Thursday.
Trump ordered the revocation of “certain existing AI policies and directives that act as barriers to American AI innovation.”
Trump’s order also calls for reviewing existing regulations regarding AI. Policies that conflict with Trump’s latest directives will be suspended or modified by order.
In October 2023, then-President Joe Biden signed a sweeping executive order on AI. The order that Trump rescinded on Monday called for greater transparency from companies developing AI tools.
Representatives for Trump did not respond to requests for comment from Business Insider.
AI has been prominently considered in Trump’s first week.
On Tuesday, Trump announced Stargate, a $500 billion AI infrastructure investment project. The new company is a joint venture between Openai, Oracle, and SoftBank.
The president said Stargate “will almost immediately create more than 100,000 American jobs.”
“What we want to do is we want to keep it in this country. China is a competitor, other people are competitors. We want to keep it present in this country.
“We’re going to help a lot through the emergency declaration. We have to build something like this because we have an emergency,” he added.
