Biden's Executive Order on AI Seeks Balance between Innovation and Regulation

President Biden delivered an Executive Order on Safe AI aimed at potential threats posed by AI, calling it an "ambitious attempt to accommodate the hopes and fears of everyone."

The order requires reporting when acquiring large amounts of computing power and discloses other info, which some argue stifles innovation.

While crypto markets are up, AI-related tokens like The Graph, Fetch.AI, SingularityNET, and Ocean Protocol are down 4-7%.

Execution of the order depends on executive agencies, which could face court challenges, and Congress is working on its own AI regulations.

One critic called the reporting requirements "public company reporting for startups," treating compute as a "dangerous resource that must be regulated."