President Biden's New Executive Order Addressing AI Misuse and Antitrust Concerns

President Biden has issued a new executive order directing his administration to create a new chief AI officer, track companies developing powerful AI systems, and adopt stronger privacy policies to guard against AI bias. The order also focuses on antitrust concerns, targeting the misuse of algorithms in fixing prices. With AI applications spreading rapidly, business leaders need to be aware of potential legal liabilities. Overall, the executive order aims to address the potential risks of AI while promoting its beneficial use in business and competition.