Podcast Summary
A whole-of-government approach to addressing AI: President Biden's executive order on AI is a step towards comprehensive regulation, focusing on executive branch, but more is needed from Congress and the law for effective regulation.
As technology, specifically artificial intelligence (AI), becomes increasingly ubiquitous, individual efforts to regulate and protect ourselves from its potential harms are no longer sufficient. Instead, policy-level interventions are necessary. This was a key point made by Meredith Broussard, a data journalism professor at NYU, during an interview on the Make Me Smart podcast. Broussard argued that the executive order on AI recently rolled out by President Biden represents a step in the right direction, as it aims to take a whole-of-government approach to addressing AI. This includes adding regulations onto companies and focusing on government contracting, which amounts to billions of dollars each year. However, it's important to note that the regulatory landscape is not yet comprehensive, as it currently only includes the executive branch. Congress and the law still need to be part of the equation for effective regulation.
Congressional AI regulation uncertain, UK focuses on safety research: Despite intense lobbying, meaningful AI regulation from Congress is unlikely. The UK is leading global efforts in AI safety research. Fear of inaction may push for collaboration and cooperation.
Meaningful AI regulation from Congress is unlikely in the near future due to intense lobbying and various issues at hand. The risks and benefits of regulation via executive agencies were discussed, with the caveat that any actions taken can be easily undone by the next administration. The UK's move into AI safety research was highlighted as a global effort towards addressing the rapidly advancing field. The fear of not taking action may be great enough to spur collaboration and cooperation among world leaders and companies. Retail spending remains strong, indicating a healthy consumer economy.
Target's CEO discusses declining retail spending and economic uncertainty, Michael Lewis covers ongoing trial of Sam Bankman Fried: Target's retail spending on discretionary items has decreased for seven consecutive quarters, raising concerns about consumer spending and the economy. Michael Lewis reports on the ongoing trial of Sam Bankman Fried, who faces fraud and conspiracy charges, potentially impacting the financial world.
Both Target's CEO, Brian Cornell, and author Michael Lewis have made headlines recently with their respective comments on the economy and ongoing trials. Cornell discussed Target's declining retail spending on discretionary items, such as toys and apparel, for the past seven quarters. This trend is concerning as consumer spending drives the economy, and the economy is currently doing well according to Federal Reserve Chair Jerome Powell. Lewis, on the other hand, discussed the ongoing trial of Sam Bankman Fried, who is facing fraud and conspiracy charges. The jury is currently deliberating, and if found guilty, it would be a significant development in the financial world. These developments highlight the current economic uncertainty and potential legal ramifications for major players in the business world.
Testimony from Sam Bankman Fried and Military Promotion Holds in the US Senate: Sam Bankman Fried's crypto testimony didn't prove crypto's everyday use value, while military promotion holds in the US Senate hinder effective military leadership
The crypto industry, specifically the actions of individuals like Sam Bankman Fried, has yet to prove its worth as a viable form of money for everyday use. During a recent trial, Bankman Fried testified on his own behalf, a risky move according to legal experts. Despite the abstract interest and potential, until crypto becomes accessible and useful for everyday transactions, it remains a speculative instrument. Meanwhile, in more pressing matters, the US Senate is facing issues of its own. Last night, Alaska Senator Dan Sullivan confronted Senator Tommy Tuberville about Tuberville's holds on military promotions. This issue is significant as America's best military leaders are needed on the front lines during global challenges, and these holds are preventing them from being promoted and deployed effectively.
Senator Tuberville's Objections to Military Nominations: Senator Tuberville's repeated objections to military nominations have left many questioning his actions and potential consequences for his reelection, with the Senate attempting to change a rule to advance them with 60 votes. The power of a single senator to hold up nominations and potential political ramifications are highlighted.
Senator Tommy Tuberville's repeated objections to military nominations on the Senate floor, despite opposition from members of his own party and potential harm to military readiness, has left many questioning his actions and potential consequences for his reelection. The Senate is currently attempting to change a standing rule to advance these nominations with 60 votes, but it remains uncertain if Tuberville's actions will have any significant impact on his political future. The situation highlights the power of a single senator to hold up nominations and the potential political ramifications of such actions. It will be interesting to see how this unfolds and if voters in Tuberville's district will remember and care about these events come reelection time. We'll continue to monitor the situation and bring you updates as they become available. In other news, don't forget about our weekly Economics on Tap event tomorrow, where we discuss current economic issues over happy hour. Stay tuned!
Engage with Marketplace through upcoming events: Join Marketplace's livestream, virtual trivia night, and support literacy by donating and spreading the word.
There are several upcoming events for listeners to engage with, including a YouTube livestream at 6:30 Eastern, 3:30 Pacific, a virtual trivia night on November 9th, and an invitation for marketplace investors. To join the livestream and trivia night, listeners need to donate $5 or more to Marketplace and register through the confirmation email. Additionally, there is a renewed call for improving literacy in schools, inspired by the "Sold A Story" podcast. Listeners are encouraged to spread the word about the podcast and its impact. The events are produced by a team of dedicated individuals, including Courtney Byrd, Ellen Rolfes, Neil LaFarsha Bandy, Marissa Cabrera, Bridget Bodner, and Francesca Levy. The team is committed to providing informative and engaging content to listeners across the country.
