JP Morgan, Mastercard, and Visa among 200 Attendees At US AI Safety Consortium

The Biden Administration has revealed that over 200 entities including Apple, Amazon, Mastercard, OpenAI, Nvidia, Visa, and JP Morgan have agreed to attend the latest US Consortium.

Gina Raimondo, US Commerce Secretary, stated that the recent consortium is expected to go down at the US AI Safety Institute. Developers, academics, officials, and industry regulators will come together to control the development of AI services and products.

Raimondo also mentioned that the US government plays a significant role in developing the tools needed to abate certain risks and harness the high potential of AI.

President Biden earlier declared that all focus should be on two major goals. These goals are the main aim of the recent Consortium. They include protecting the innovation environment and setting safety AI standards.

The US Government Aims To Reduce The Spread Of Fake AI-Generated Images And Videos

The Biden Administration wants to implement AI regulation. It also aims to set transparency standards and laws for big tech and calls for AI content watermarking.

Biden earlier gave an executive order concerning this issue. The US government, in a federal bill issued by the Senate, wants to reduce the spread of fake AI-generated images and videos.

Last year, major AI firms decided to delve into AI-generated content watermarking. They want to make the technology more secure and safer.  For years, Red-teaming has been used in cybersecurity to recognize new risks. The term was derived from the villain in U.S. Cold War simulations called the Red Team.

Amazon Supports The US AI Safety Institute With A $5 Million Contribution

Amazon has contributed $5 million in credits to support the US AI Safety Institute (USAISI). The firm intends to help in developing a secure and safer foundation for global public policy.

The Commerce Department revealed in December that it took an initial step forward in providing major standards for safe AI placement and testing. The consortium showcases the highest gathering of top evaluation and test teams. It also focuses on building strong foundations for new AI safety measurement science, Commerce reported.

White House Deputy Chief of Staff, Bruce Reed, said that to work efficiently with AI, all firms must take quick steps toward AI development. He also highlighted the importance of carrying everyone along, from the government, academia, and private sector in the latest AI endeavor.

Mastercard was also present at the consortium. The firm believes that the development of technology will most certainly begin with foundational practices that protect and acknowledge the rights of individuals in society. It also developed a set of principles to elevate the company’s tech standards.