regulation

APEC economies have issued the “Chengdu Statement on AI,” emphasizing security, data protection, and IP rights while supporting open-source development. This signals a shift towards greater government oversight of AI, particularly as China promotes accessible open-source models. The statement aims to foster dialogue on cybersecurity and data sharing, reflecting a growing global focus on balancing AI innovation with robust security measures.

Tech giants Alphabet and Tesla saw shares decline on concerns over increased AI spending, despite strong revenue. Tesla missed EPS expectations, while IBM also reported weaker results. Geopolitical tensions, including attacks on Saudi Arabian tankers, pushed oil prices up nearly 5%, nearing $90. Congress is considering bills to ban stock trading for members and restrict presidential involvement with cryptocurrencies. The EU approved the Paramount-Warner Bros. Discovery merger, while the US deal faces legal challenges. Comcast beat earnings and achieved profitability with its Peacock streaming service.

TikTok’s policy chief defended the platform’s safety features amidst EU plans to restrict children’s social media access. TikTok emphasizes “safety by design” with over 50 pre-set safety features for users under 16, including screen time limits and nightly breaks. This comes as governments globally, including the EU, are implementing measures to enhance online safety for minors, with the EU citing concerns about “addictive design.” TikTok highlights its commitment to fostering healthy engagement and significant investments in trust and safety.

AI companies are pouring over $20 million into a New York Democratic primary, shaping the race for federal AI policy. Two super PACs, Leading the Future and Public First Action, backed by AI giants like Andreessen Horowitz and Anthropic, are clashing. The election’s outcome could set a precedent for US AI regulation, with one PAC favoring innovation and the other advocating for stringent safety measures and oversight.

OpenAI is facing investigations from state attorneys general regarding its AI practices, including data handling and user safety. The company states it takes concerns seriously and is committed to responsible AI development. This scrutiny follows ChatGPT’s rapid rise and OpenAI’s massive valuation, with the company preparing for a potential IPO. Legal challenges also include lawsuits alleging harm caused by AI, prompting OpenAI to enhance safety features for vulnerable users.

Stricter social media regulations could inadvertently empower tech giants, hindering innovation and smaller competitors, warns Bluesky’s COO Rose Wang. While supporting youth safety measures, she fears regulations might concentrate power and make it impossible for new platforms to emerge. Australia’s pioneering age verification laws, setting a global precedent, are cited as an example of measures that could disproportionately impact smaller entities. Wang advocates for balanced regulations that protect smaller players while effectively governing Big Tech.

OpenAI CEO Sam Altman is actively engaging with US lawmakers in Washington D.C. to discuss artificial intelligence policy, following President Trump’s executive order on AI development. Altman’s meetings with key administration officials and congressional leaders aim to shape AI regulation. He supports a balanced approach promoting U.S. leadership through innovation and safety, emphasizing responsible AI development and public accountability. OpenAI advocates for thoughtful regulation and rigorous safety standards, transparently engaging in policy discussions.

The CFTC is recalibrating its enforcement approach in digital assets, signaled by dropping the Gemini case. Chairman Selig stated the Biden administration “weaponized” agencies, and the current administration is rectifying errors and seeking a fresh start. This move suggests a less adversarial regulatory posture, potentially fostering innovation and institutional participation, though concerns about regulatory consistency remain.

The Trump administration faces a public standoff with the Vatican over AI, highlighting a political challenge. While the administration pushes for AI dominance and deregulation, Pope Leo XIV warns of job displacement and inequality. Internal administration divisions exist, with contrasting reactions from key figures. This conflict arises as the US delays an AI safety review, prioritizing competitiveness over ethical concerns, and as the Vatican collaborates with an AI firm critical of administration policies. The dispute risks alienating Catholic voters crucial to Trump’s coalition.

The EU is intensifying its regulation of social media giants like TikTok and Instagram to combat “addictive design” features. Measures target endless scrolling, autoplay, and push notifications. The EU is also scrutinizing Meta for age verification enforcement and investigating platforms for potentially harmful content. An EU-developed age verification app is planned for integration into digital wallets. This push follows a US court ruling and Meta’s violation of the Digital Services Act, reflecting a global trend towards stricter child online safety measures.