The order, which President Biden issued on Monday, is the strongest step his administration has taken to date in addressing AI threats ranging from national security to competition and consumer privacy.

“To realize the promise of AI and avoid its risks, we need to regulate this technology, there is no other way,” Mr. Biden said at a White House event on Monday.

“President Biden is launching the strongest set of actions any government in the world has ever taken on AI safety, security, and trust,” said Bruce Reed, White House deputy chief of staff.

The order comes as countries around the world grapple with how to regulate AI companies and models that have little oversight. Gary Gensler, chairman of the US Securities and Exchange Commission, said a financial crisis is “almost inevitable” within the next decade if AI risks are not managed.

The European Union (EU) is currently working on tough measures on the use of AI in a groundbreaking law that will be fully adopted by the end of this year.

Asked whether the EU AI bill would influence Mr Biden’s order, a senior US administration official said: “I don’t think we’re in a race. I don’t think we’re playing catch-up.”

In May, OpenAI CEO Sam Altman, which owns ChatGPT, said his company might have to “shut down operations” in Europe if the EU’s strict AI regulatory efforts come into effect.

Mr Biden's order comes after 15 major tech companies - including Amazon, Google, Meta, Microsoft and OpenAI - made voluntary commitments in July to manage the risks of AI models.

Hoang Hai (according to FT)