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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 11, 2025

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    PARIS (Reuters) - U.S. Vice President JD Vance outlined on Tuesday the artificial intelligence policies of President Donald Trump's administration, prioritising innovation, de-regulation, protection of free speech and U.S. workers in what he likened to the dawn of a new industrial revolution.

    Below are some of the key quotes from Vance's first major international speech since taking office last month:

    "I'm not here this morning to talk about AI safety, which was the title of the conference a couple of years ago. I'm here to talk about AI opportunity."

    "The Trump administration, believes that AI will have countless revolutionary applications in economic innovation, job creation, national security, health care, free expression and beyond, and to restrict its development now will not only unfairly benefit incumbents in this space, it would mean paralysing one of the most promising technologies we have seen in generations."

    "This administration will ensure that American AI technology continues to be the gold standard worldwide, and we are the partner of choice for other foreign countries and certainly businesses as they expand their own use of AI."

    "Number two, we believe that excessive regulation of the AI sector could kill a transformative industry just as it's taking off, and we'll make every effort to encourage pro-growth AI policies, and I'd like to see that deregulatory flavour making its way into a lot of the conversations at this conference."

    "Number three, we feel very strongly that AI must remain free from ideological bias, and that American AI will not be co-opted into a tool for authoritarian censorship."

    "Number four, the Trump administration will maintain a pro worker growth path for AI, so it can be a potent tool for job creation in the United States."

    "The United States of America is the leader in AI and our administration plans to keep it that way."

    "America wants to partner with all of you. We want to embark on the AI revolution before us with the spirit of openness and collaboration. But to create that kind of trust, we need international regulatory regimes that foster the creation of AI technology rather than strangle it, and we need our European friends in particular to look to this new frontier with optimism."

    "The Trump administration is troubled by reports that some foreign governments are considering tightening screws on U.S. tech companies with international footprints. America cannot and will not accept that, and we think it's a terrible mistake."

    "At this moment, we face the extraordinary prospect of a new industrial revolution ... But it will never come to pass if over-regulation deters innovators from taking the risks necessary to advance the ball. Nor will it occur if we allow AI to become dominated by massive players looking to use the tech to censor or control users' thoughts."

    "The Trump administration will ensure that AI systems developed in America are free from ideological bias and never restrict our citizens' right to free speech. We can trust our people to think, to consume information, to develop their own ideas and to debate with one another in the open marketplace of ideas."

    "We've also watched as hostile foreign adversaries have weaponized AI software to rewrite history, surveil users and censor speech ... Some authoritarian regimes have stolen and used AI to strengthen their military intelligence and surveillance capabilities to capture foreign data and create propaganda to undermine other nations' national security. I want to be clear, this administration will block such efforts full stop."

    "We will always centre American workers in our AI policy, we refuse to view AI as a purely disruptive technology that will inevitably automate away our labour force. We believe and we will fight for policies that ensure that AI is going to make our workers more productive, and we expect that they will reap the rewards with higher wages, better benefits and safer and more prosperous communities."

    "We must focus now on the opportunity to catch lightning in a bottle, unleash our most brilliant innovators and use AI to improve the well being of our nations and their peoples. With great confidence, I can say it is an opportunity that the Trump administration will not squander, and we hope everyone convened here today feels exactly the same."

    (Reporting by Gabriel Stargardter; Editing by Susan Fenton)

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