White House Issues New Rules for AI: Impact on Cryptocurrency Industry

According to CryptoPotato, the US government has introduced new rules requiring companies to conduct AI safety tests and share the results with the government. These rules also include meeting official standards for safe AI development and clearly labeling AI-generated content. The White House released a fact sheet stating that AI can bring real benefits to consumers, but also raises the risk of harming Americans.The new reporting requirements in President Biden's executive order may increase regulatory costs for AI blockchains. Developers of the most powerful AI systems must share their safety test results and other critical information with the US government. However, this requirement is unlikely to overburden startups, as projects that reach a critical threshold of capability should be well-capitalized and able to meet the costs with a negligible effect on their finances.The cryptocurrency industry has much to offer in terms of techniques that can help achieve the government's goals. Blockchain technology already has a significant head start in security and privacy preservation. The White House's order on AI includes goals for cryptography to protect Americans' privacy, such as funding a Research Coordination Network to advance rapid breakthroughs and development.Top AI cryptocurrencies like The Graph (GRT), SingularityNet (AGIX), and Fetch.ai (FET) use AI to perform tasks that humans cannot. The Graph, for example, is an AI-powered indexing protocol for smart contract platforms like Ethereum. AI cryptocurrencies can also help fight cyber-criminals and AI-enabled identity theft or theft of users' digital funds or private information by quickly verifying users' private keys.