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Understanding AI: Biden's Executive Orders, Actors' Union Strikes, and Global Developments

In a significant development that could shape the future of artificial intelligence (AI), President Joe Biden has issued an executive order outlining over twenty guidelines for the "safe, secure, and trustworthy" use of AI. This move comes as governments worldwide grapple with challenges AI presents, including potential threats to humanity, civil rights abuses, and copyright issues. The order seeks to protect the safety and privacy of Americans, advance equality and civil rights, and advocate for consumers, patients, and students. The American actors' union, SAG-AFTRA, continues its strike, with the use of AI being a significant issue. The strike centers around the use of AI to recreate performers' likenesses, with the union demanding performer consent and minimum compensation. The outcome of this dispute could significantly impact how AI is used within the entertainment and creative industries. In the realm of WealthTech, a report by McKinsey & Company highlights how digital platforms are transforming the finance sector. These platforms, which include those that allow customers to track their investments online, are making advisors' jobs more efficient and challenging the traditional commission-based model. In Canada, the National Crowdfunding & Fintech Association (NCFA) is fostering a vibrant fintech and funding industry. Their focus includes fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, AI, blockchain, cryptocurrency, regtech, and insurtech sectors, underlining the growing interest in new technologies and AI globally. Recently, a case of deepfake imagery has stirred controversy, highlighting the increasing sophistication of AI-generated imagery. In another development, Google is using AI to enhance its Search feature's functionality in solving math and science problems, showcasing AI's potential to transform user experiences. In the shipping industry, climate change is driving the need for AI technology in navigation and logistics planning. In response, companies like Maersk are turning to green technologies, resilience planning, and AI-powered weather monitoring systems to mitigate potential disruptions. The AI safety summit initiated by Rishi Sunak at Bletchley Park will include Elon Musk among its attendees. The aim of this event is to discuss the dangers of advanced AI and promote the UK as a leader in international AI regulation. Despite some notable absences, the summit seeks to bring together AI experts, world leaders, and businesses to address potential risks associated with the technology. In conclusion, the ongoing developments in AI present both exciting possibilities and significant challenges. Governments, industries, and organizations worldwide are recognizing the implications of AI and are working towards navigating this new frontier responsibly. With the rapid advancement of AI technology, the need for regulation, safe practices, and comprehensive AI safety models has never been more critical. Links:

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