Biden’s AI Executive Order, Sam Bankman-Fried’s Conviction & More

Biden Issues Executive Order on AI

President Biden issued a sweeping executive order last that week aimed at managing the risks associated with artificial intelligence. Among other things the order requires AI developers to share safety test results with the U.S. government, directs the National Institute of Standards and Technology to develop standards for AI systems to meet before being released to the public, and directs the Commerce Department to issue guidance for the labeling and watermarking of AI-generated content. (ASSOCIATED PRESS, WHITEHOUSE.GOV)

Former Crypto Mogul Sam Bankman-Fried Convicted

A jury found Sam Bankman-Fried, founder of now-bankrupt cryptocurrency exchange FTX, guilty of all seven criminal charges against him. Those charges included wire fraud and conspiracy to commit wire fraud against FTX customers, conspiracy to commit commodities fraud against FTX investors, and conspiracy to commit money laundering. (REUTERS, CNBC)

Amazon Used Secret Price-Raising Algorithm

Amazon employed an algorithm that raised prices for U.S. consumers by over $1 billion, according to a court filing from the U.S. Federal Trade Commission. The FTC filed its lawsuit against Amazon in September but that particular detail was one of many not made public until the new version of the suit was filed in U.S. District Court in Seattle last week. (REUTERS)

—Compiled by SNCJ Managing Editor KOREY CLARK