Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Elon Musk Throws Weight Behind California AI Regulation Bill Even As OpenAI Prefers Federal Regulation Over State Laws: 'Will Make Some People Upset….'

Author: Ananya Gairola | August 26, 2024 09:50pm

Tesla and SpaceX CEO Elon Musk, who co-founded OpenAI in 2015 and left the startup in 2018, only to start his AI venture xAI, has now publicly endorsed the SB 1047 AI safety bill in California.

What Happened: On Monday, Musk took to X, formerly Twitter, and expressed his support for the SB 1047 AI safety bill in California. 

“This is a tough call and will make some people upset, but, all things considered, I think California should probably pass the SB 1047 AI safety bill,” Musk wrote.

He went on to add that for 20 years, he has been an advocate for AI regulation, “just as we regulate any product/technology that is a potential risk to the public.”

See Also: Apple To Unveil iPhone 16, Watches, And AirPods At September 10 Event: Report

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Why It Matters: The endorsement from Musk comes amid a heated debate on the bill. Earlier, two former OpenAI employees had expressed their disappointment at ChatGPT-maker’s opposition to the bill.

They also warn of potential “catastrophic harm to society” if AI models are developed without adequate safety precautions.

Former Speaker of the House Nancy Pelosi (D-Calif.) has also criticized the bill as “well-intentioned but ill-informed,” raising questions about the potential impact on her tech investments.

The bill, introduced by Senator Scott Wiener (D-Calif.), requires safety testing for advanced AI models that cost over $100 million to develop or demand substantial computing power.

Sam Altman-led OpenAI has contended that AI regulation should be managed at the federal level, warning that the bill could lead to an uncertain legal landscape.

Image via Shutterstock

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next:

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Posted In: TSLA

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist