Trump says he’s calling off widely anticipated order to rein in AI

President Donald Trump called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony Thursday because he said he was worried the measure could dull America’s edge on AI technology.

Trump said he was postponing the Oval Office event with tech industry executives because he did not like what he saw in the order’s text. “We’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead,” Trump told reporters.

The push for some kind of government action to vet the most powerful AI systems follows growing concern within the banking industry and other institutions about the leaps in AI’s abilities to find cybersecurity vulnerabilities in the world’s software.

Treasury Secretary Scott Bessent and outgoing Federal Reserve Chair Jerome Powell convened an urgent meeting with Wall Street CEOs in April, warning them about the cybersecurity risks posed by Anthropic’s AI model, Claude Mythos.

The meeting, urgently assembled at the Treasury Department’s headquarters, was intended to ensure that banks were aware of the risks........

© Fortune