DeFi Daily News
Monday, June 9, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi

rewrite this title Could a U.S. AI Czar Reshape Global Fintech? – Finovate

Julie Muhn (@julieschicktanz) by Julie Muhn (@julieschicktanz)
December 2, 2024
in DeFi
0 0
0
rewrite this title Could a U.S. AI Czar Reshape Global Fintech? – Finovate
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

You may not think of the U.S. when it comes to having a czar in a leadership role. However, Axios reported last week that President-elect Trump is considering naming an AI czar that would be responsible for coordinating policy and governmental use of AI. This is notable because, as of now, the U.S. does not have a central agency governing and regulating the use of AI.

If put into power, a U.S. AI czar would potentially be responsible for unifying the country’s AI strategy across government and private sectors. The AI czar would also be charged with creating regulatory clarity and streamlining regulations for AI development in key industries such as fintech, healthcare, and eCommerce. Given the U.S.’s current role in the global economy, an AI czar could play a role in setting global standards for fintech AI regulation.

Benefits

There are some surprising benefits to a potential AI czar taking leadership in the U.S. First, the leader would have the potential to coordinate AI innovation and guide global efforts. This centralized orchestration could accelerate the development of AI-powered fintech solutions like fraud detection, credit scoring, and personalization strategies. Additionally, for both banks and startups, having clear, government-issued guidelines for the use of AI offers many benefits, including increased investor confidence and faster adoption of AI across subsectors. Finally, having an U.S.-led AI strategy could foster cross-border partnerships and may also be able to influence international fintech standards.

Risks

As with many applications of AI, however, there are potential risks and challenges associated with the crowning of an individual as AI czar. First, there is significant potential for favoritism to shape the role. According to Axios, the AI leader will not require Senate consent. Rather, Elon Musk and Vivek Ramaswamy, who Trump has selected to lead the new Department of Government Efficiency (DOGE), will have input into who is selected for the AI czar role. This raises concerns over potential favoritism and bias. Regardless of who is placed in the potential role or how they are appointed, there are also risks that the use of AI will end up over-regulated and that centralizing control of AI usage could stifle fintech innovation across the globe.

Global impact

U.S. policies created under an AI czar might intensify competition with other countries in the AI-arms race. Specifically, the role may help the U.S. compete with China, which has heavily invested in AI. Creating an AI czar could help the U.S. catch up with China by fostering rapid advancements in AI applications in fintech and related fields. In addition to clarifying regulation around the use of AI, the appointed person could help by coordinating research, funding, and partnerships at a national level. This streamlined approach might also encourage collaboration among U.S. fintech companies, making them more competitive in global markets.

What’s next?

Regardless of what happens (or doesn’t happen) with the AI role, both banks and fintechs should pay close attention while monitoring any U.S. AI policy changes. This applies to both firms that are creating their own AI-driven solutions in-house, as well as to those that leverage AI-driven solutions from third party providers. Everyone is in the AI game– whether they think they are or not– and the decisions made by policymakers will shape the rules of that game.

Photo by Marek Pavlík on Unsplash


Views: 7

Related

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: czarFinovateFintechGlobalReshaperewritetitleU.S
ShareTweetShare
Previous Post

rewrite this title Orderly Network Brings Omnichain Perps Trading to Solana Users – Crypto-News.net

Next Post

Bill Belichick Weighs In On Bears Blundering End Of Game, Firing Head Coach | Pat McAfee Show

Next Post
Bill Belichick Weighs In On Bears Blundering End Of Game, Firing Head Coach | Pat McAfee Show

Bill Belichick Weighs In On Bears Blundering End Of Game, Firing Head Coach | Pat McAfee Show

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
The Future of Blockchain: An Inside Look at Cardano

The Future of Blockchain: An Inside Look at Cardano

July 18, 2024
Mastering Crypto Mining: A Step-By-Step Guide

Mastering Crypto Mining: A Step-By-Step Guide

September 12, 2024
rewrite this title with good SEO What Bitcoin Indicators Predict For Q3 2025?

rewrite this title with good SEO What Bitcoin Indicators Predict For Q3 2025?

April 18, 2025
Moralis Web3: Enterprise-Grade Crypto PnL API for Tracking Wallet Profit & Loss

Moralis Web3: Enterprise-Grade Crypto PnL API for Tracking Wallet Profit & Loss

July 24, 2024
Forecasting Reserve Rights (RSR) Prices: 2024, 2025, 2026, 2027 Through 2030

Forecasting Reserve Rights (RSR) Prices: 2024, 2025, 2026, 2027 Through 2030

September 18, 2024
I Have Fallen Into The Personal Loan Trap

I Have Fallen Into The Personal Loan Trap

May 2, 2025
rewrite this title National Iced Tea Day Freebies 2025

rewrite this title National Iced Tea Day Freebies 2025

June 9, 2025
rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

June 9, 2025
rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

June 9, 2025
rewrite this title Avalanche Meme Coin Trenches Heat Up as AVAX Lambo Token Touches  Million – Decrypt

rewrite this title Avalanche Meme Coin Trenches Heat Up as AVAX Lambo Token Touches $25 Million – Decrypt

June 9, 2025
rewrite this title AI Agents Are Changing the Game for Real Estate Investors in 2025

rewrite this title AI Agents Are Changing the Game for Real Estate Investors in 2025

June 9, 2025
rewrite this title What’s The Best Crypto To Buy Beyond Dogecoin (DOGE) and Shiba Inu (SHIB)

rewrite this title What’s The Best Crypto To Buy Beyond Dogecoin (DOGE) and Shiba Inu (SHIB)

June 9, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.