Finance
Trump revokes Biden executive order on addressing AI risks
Published by Global Banking & Finance Review®
Posted on January 21, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 21, 2025
2 min readLast updated: January 27, 2026
Trump revokes Biden's AI risk order, claiming it hinders innovation. The order aimed to mitigate AI risks to security and economy.
By David Shepardson
WASHINGTON (Reuters) -U.S. President Donald Trump on Monday revoked a 2023 executive order signed by Joe Biden that sought to reduce the risks that artificial intelligence poses to consumers, workers and national security.
Biden's order required developers of AI systems that pose risks to U.S. national security, the economy, public health or safety to share the results of safety tests with the U.S. government, in line with the Defense Production Act, before they were released to the public.
The order also directed agencies to set standards for that testing and address related chemical, biological, radiological, nuclear, and cybersecurity risks. Biden's order came as U.S. lawmakers have failed to pass legislation setting guardrails for AI development.
The 2024 Republican Party platform vowed to repeal the order that it said hinders AI innovation and added "Republicans support AI development rooted in free speech and human flourishing."
Generative AI, which can create text, photos and videos in response to open-ended prompts, has spurred excitement as well as fears it could make some jobs obsolete or have other negative consequences.
Last week, the U.S. Commerce Department issued new restrictions on AI chip and technology exports that drew criticism from industry including companies like Nvidia.
Biden issued a separate executive order last week to provide federal support to address massive energy needs for fast-growing advanced AI data centers, calling for leasing federal sites owned by Defense and Energy departments. Trump did not repeal that order.
(Reporting by David Shepardson; Editing by Lisa Shumaker)
Biden's order required developers of AI systems that pose risks to U.S. national security, the economy, public health, or safety to share the results of safety tests with the U.S. government.
The 2024 Republican Party platform vowed to repeal the order, claiming it hinders AI innovation and supports AI development rooted in free speech and human flourishing.
Generative AI has spurred excitement but also fears that it could make some jobs obsolete or have other negative consequences.
Last week, the U.S. Commerce Department issued new restrictions on AI chip and technology exports, which drew criticism from industry players including companies like Nvidia.
Biden issued a separate executive order to provide federal support for addressing the massive energy needs of fast-growing advanced AI data centers.
Explore more articles in the Finance category
