In a landmark move, President Biden issued an executive order regarding artificial intelligence (AI). The White House press release stated that the executive order aims to establish new AI safety and security standards and ” protects Americans’ privacy, advances equity and civil rights, stands up for consumers and workers” and “promotes innovation and competition.”
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Among the different standards, developers of AI systems will be required to share safety test results with the government, ensuring national security. Moreover, the National Institute of Standards and Technology, will enforce “extensive red-team testing to ensure safety before public release” of AI systems.
The Federal Government will look at mitigating risks tied to AI-driven fraud and deception through content authentication and watermarking guidelines. Additionally, an advanced cybersecurity program will harness AI to fortify critical software. The executive order also calls for the development of the National Security Memorandum that will look at the ethical and effective use of AI in the military and intelligence community.
Earlier this year, tech giants including Microsoft’s (MSFT) OpenAI, Google (GOOGL) and Meta Platforms (META) had voluntarily agreed to watermark AI-generated content.
Is IRBO a Good Buy?
The rising interest in AI has resulted in the iShares Robotics and Artificial Intelligence Multisector ETF (IRBO) gaining more than 10% year-to-date. Overall, analysts are cautiously optimistic about IRBO ETF with a Moderate Buy consensus rating based on 62 Buys, 50 Holds and one Sell.
