Biden's Last Resort: Banning AI

With this executive order, the president directs the most sweeping actions ever taken… With this executive order, the president directs the most sweeping actions ever taken…                                                                                                      [Energy and Capital Header] Practical Investment Analysis for the New Energy Economy Biden's Last Resort: Banning AI Alex Boulden | Nov 08, 2023 Dear Reader, The Biden administration is getting desperate... With so much buzz about artificial intelligence, they’re afraid of being replaced. Imagine a government with no human flaws, no ability to be bribed or coerced, no hidden backroom deals — one that just creates legislation using all the information available to it in the world. Well, it could be coming soon. That’s why the Biden admin is shaking in their boots. For proof, they just released a statement last week detailing some new mandates surrounding all things AI. It looks bad... As we all know, once the government gets involved with anything, it tends to slow it down and dismantle it. It sounds like the White House is out of options, so it’s resorting to dictums. Here’s what it wrote... Today, President Biden is issuing a landmark executive order to ensure that America leads the way in seizing the promise and managing the risks of artificial intelligence (AI). The executive order establishes new standards for AI safety and security, protects Americans’ privacy, advances equity and civil rights, stands up for consumers and workers, promotes innovation and competition, advances American leadership around the world, and more... With this executive order, the president directs the most sweeping actions ever taken to protect Americans from the potential risks of AI systems... Sweeping actions in the name of our protection are never something to brag about... So what are they really doing here? Let’s go over just three of the many empty points laid out. Each point raises more questions than answers... [QUIZ] 46 BILLION Barrels of Oil?! A massive $5.9 trillion oil boom is about to take place. Three tiny companies just acquired the rights to mine an untapped patch holding 46 billion barrels of oil in a mystery location... And it even has the potential to reach $9 trillion in value if prices reach $200 per barrel! So which country do you think will lead this upcoming oil surge? - Venezuela - Saudi Arabia - Canada - Russia Think you know the answer? [See if you’re right!]( First, this executive order will “Require that developers of the most powerful AI systems share their safety test results and other critical information with the U.S. government. In accordance with the Defense Production Act, the Order will require that companies developing any foundation model that poses a serious risk to national security, national economic security, or national public health and safety must notify the federal government when training the model, and must share the results of all red-team safety tests. These measures will ensure AI systems are safe, secure, and trustworthy before companies make them public.” But who gets to decide what poses a risk to national security? What data are they going to be required to give to the government? How can we trust that the government will know what is secure and trustworthy if they didn’t build the system themselves? Second, the government will “Develop standards, tools, and tests to help ensure that AI systems are safe, secure, and trustworthy. The National Institute of Standards and Technology will set the rigorous standards for extensive red-team testing to ensure safety before public release. The Department of Homeland Security will apply those standards to critical infrastructure sectors and establish the AI Safety and Security Board. The Departments of Energy and Homeland Security will also address AI systems’ threats to critical infrastructure, as well as chemical, biological, radiological, nuclear, and cybersecurity risks. Together, these are the most significant actions ever taken by any government to advance the field of AI safety.” Who gets to decide who’s on the Safety and Security Board? What standards for testing are going to be in place, and why? And who gets to decide if it’s safe? What if they’re wrong? What consequences are going to be enforced? It also says we need to “Protect against the risks of using AI to engineer dangerous biological materials by developing strong new standards for biological synthesis screening. Agencies that fund life-science projects will establish these standards as a condition of federal funding, creating powerful incentives to ensure appropriate screening and manage risks potentially made worse by AI.” Just more layers of red tape. It further goes on to say we need to protect privacy, advance equity and civil rights, stand up for consumers, and support workers. All good stuff in theory, but ultimately this is just another empty piece of government jargon. I wouldn’t be surprised if it was written by ChatGPT... [twa plug in payouts]( It doesn’t say how why or when it expects any of these goals to be reached. It looks more like a dictum, a last-ditch effort to control what can’t be controlled. Despite all this nonsense, one thing’s for certain... The AI boom created some of the biggest companies by market cap in the world, including Nvidia, now worth more than $1 trillion. But most people don’t realize one critical thing about the company’s meteoric rise... Nvidia just got lucky! You see, for most of the company’s history, Nvidia has been focused squarely on video games — an entirely different industry from AI. In fact, Nvidia’s chips were designed to serve just one purpose... To create ultrarealistic graphics in games such as Call of Duty and Counter-Strike. Great stuff, but in other words... This technology was never meant to power AI. It’s why Nvidia could soon crash and burn... Because there’s a new player in town — one that owns a patent-protected chip specifically designed to run AI. This makes it much more powerful than Nvidia’s gaming tech. It's as much as 100 times more powerful. It could be the end of Nvidia as we know it. That's why this company has been dubbed the "Nvidia Killer." It already inked deals with the U.S. Air Force, Cisco, and Raytheon. And soon this chip will be available to the mainstream... But if you position yourself before it reaches the mass market, you could turn every $1 into $120... Just like early Nvidia investors did. My colleague Keith Kohl — who covers emerging tech — just published [an urgent presentation]( on this unique opportunity. Inside, he explains all the details and how you can position yourself today. [Get the full story here while there’s still time.]( Stay frosty, Alexander Boulden Editor, Wealth Daily [[follow basic]Check us out on YouTube!]( After Alexander’s passion for economics and investing drew him to one of the largest financial publishers in the world, where he rubbed elbows with former Chicago Board Options Exchange floor traders, Wall Street hedge fund managers, and International Monetary Fund analysts, he decided to take up the pen and guide others through this new age of investing. Alexander is the investment director of Insider Stakeout — a weekly investment advisory service dedicated to tracking the smartest money on the planet so that his readers can achieve life-altering, market-beating returns. [Check out his editor's page here](. Want to hear more from Alexander? [Sign up to receive emails directly from him]( ranging from market commentaries to opportunities that he has his eye on. [Fb]( [Li]( [Tw]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Energy and Capital, Copyright © 3 East Read Street, Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. If you're not sure why you're getting this e-letter, or no longer wish to receive it, get more info [here]( including our privacy policy and information on how to manage your subscription. 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