US to Launch its Own AI Safety Institute

 US Commerce Secretary Gina Raimondo speaks during the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 1, 2023. (AFP)
US Commerce Secretary Gina Raimondo speaks during the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 1, 2023. (AFP)
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US to Launch its Own AI Safety Institute

 US Commerce Secretary Gina Raimondo speaks during the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 1, 2023. (AFP)
US Commerce Secretary Gina Raimondo speaks during the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 1, 2023. (AFP)

The United States will launch a AI safety institute to evaluate known and emerging risks of so-called "frontier" artificial intelligence models, Secretary of Commerce Gina Raimondo said on Wednesday.

"I will almost certainly be calling on many of you in the audience who are in academia and industry to be part of this consortium," she said in a speech to the AI Safety Summit in Britain.

"We can't do it alone, the private sector must step up."

Raimondo added that she would also commit to the US institute establishing a formal partnership with the United Kingdom Safety Institute.

The new effort will be under the National Institute of Standards and Technology (NIST) and lead the US government’s efforts on AI safety, especially for reviewing advanced AI models.

The institute "will facilitate the development of standards for safety, security, and testing of AI models, develop standards for authenticating AI-generated content, and provide testing environments for researchers to evaluate emerging AI risks and address known impacts," the department said.

President Joe Biden on Monday signed an artificial intelligence executive order, requiring developers of AI systems that pose risks to US national security, the economy, public health or safety to share the results of safety tests with the US government, in line with the Defense Production Act, before they are released to the public.

The order also directs agencies to set standards for that testing and address related chemical, biological, radiological, nuclear, and cybersecurity risks.



Founder of TikTok Owner ByteDance Jumps to Top of China’s Rich List

Zhang Yiming, founder and former global CEO of ByteDance, poses in Palo Alto, California, US, March 4, 2020. Picture taken March 4, 2020. (Reuters)
Zhang Yiming, founder and former global CEO of ByteDance, poses in Palo Alto, California, US, March 4, 2020. Picture taken March 4, 2020. (Reuters)
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Founder of TikTok Owner ByteDance Jumps to Top of China’s Rich List

Zhang Yiming, founder and former global CEO of ByteDance, poses in Palo Alto, California, US, March 4, 2020. Picture taken March 4, 2020. (Reuters)
Zhang Yiming, founder and former global CEO of ByteDance, poses in Palo Alto, California, US, March 4, 2020. Picture taken March 4, 2020. (Reuters)

ByteDance founder Zhang Yiming is China's richest person, with personal wealth of $49.3 billion, an annual rich list showed on Tuesday, although counterparts in real estate and renewables have fared less well.

Zhang, 41, who stepped down as chief executive of ByteDance in 2021, becomes the 18th individual to be crowned China's richest person in the 26 years since the Hurun China Rich List was first published.

He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24% to $47.9 billion.

Despite a legal battle over its US assets, ByteDance's global revenue grew 30% last year to $110 billion, Hurun said, helping to propel Zhang's personal fortune.

Third on the list was Tencent's low-profile founder, Pony Ma, while Colin Huang, founder of PDD Holdings, slipped to fourth place from third last year, even as his firm's discount-focused e-commerce platforms, Pinduoduo and Temu, continue to show healthy revenue growth.

The number of billionaires on the list dropped by 142 to 753, shrinking more than a third from its 2021 peak.

"China’s economy and stock markets had a difficult year," said Hurun Report Chairman Rupert Hoogewerf.

The most dramatic falls in fortunes have come from China's real estate sector, he added, while consumer electronics is clearly rising fast, with Xiaomi founder Lei Jun adding $5 billion to his wealth this year.

"Solar panel, lithium battery and EV makers have had a challenging year, as competition intensified, leading to a glut, and the threat of tariffs added to uncertainties," said Hoogewerf, who is also the list's chief researcher.

"Solar panel makers saw their wealth down as much as 80% from the 2021 peak, while battery and EV makers were down by half and a quarter respectively."