US will join G-7 AI pact, citing threat from China – BNN Bloomberg

Dhwani Mehta FXStreet

According to BNN Bloomberg news, the US is considering joining an international organization that will advise companies and governments on the responsible development of artificial intelligence.

With this, the US will be the last of the Group of Seven (G&) countries to be on board.

Michael Kratsios, the Chief Technology Officer of the US, said: “The group, called the Global Partnership on AI, will study and provide recommendations to encourage the creation of AI technologies that respect privacy and civil liberties.”

Kratsios noted that this one was important as a check on China’s approach to AI, which often involves using new technologies to augment an already-robust surveillance state.

“The Chinese government has twisted AI in ways that are in direct conflict with the values of the US and its allies,” he added.

The G-7 meeting on Thursday will be led by Kratsios and Kelvin Droegemeier, Trump’s science adviser.

This comes amidst rife tensions between the US and China on the Hong Kong issue. On Wednesday, the US Secretary of State Michael Pompeo said that the country could no longer certify Hong Kong as politically autonomous, a move that could trigger sanctions on Beijing.

Market reaction

Despite escalation tensions between the two leading world economies, the market mood remains lifted amid expectations of a quicker economic upturn, as most major global economies re-open up from the coronavirus-imposed lockdowns. Global stimulus plans to stimulate the recovery process also boosts the Asian stocks and US equity futures.

AUD/USD extends its recovery mode above 0.6600, now testing highs at 0.6633, up 0.20% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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