Bessent says US needs more open-source AI models to compete with China
Treasury Secretary Scott Bessent is pushing for more open-source AI models to ensure the U.S. remains competitive against China, warning that nothing else would matter if China wins the AI race. While defending the Trump administration's safety stance, Bessent told lawmakers he has not seen any AI regulation he would support. He argues that the most effective safety system is holding AI creators liable for the outcomes of what they build and generate, cautioning Congress against giving AI companies what they want.
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- ✓ Scott Bessent stated the U.S. needs more open-source AI models to compete with China.
- ✓ Bessent warned that nothing else would matter if China wins the AI race.
- ✓ Bessent told Congress he has not seen any AI regulation he would support.
- ✓ Bessent believes AI creators should not be relieved of liability for their outcomes.
What changed
Secretary Bessent specified that creator liability is the best safety system and expressed a willingness to discuss AI risks with China.
Live updates
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Treasury Secretary Bessent advocates for open-source AI to counter China
Treasury Secretary Scott Bessent is pushing for more open-source AI models to ensure the U.S. remains competitive against China, warning that nothing else would matter if China wins the AI race. While defending the Trump administration's safety stance, Bessent told lawmakers he has not seen any AI regulation he would support. He argues that the most effective safety system is holding AI creators liable for the outcomes of what they build and generate, cautioning Congress against giving AI companies what they want.
Why it matters
The U.S. is currently balancing the need for rapid AI innovation against the risks of uncontrolled deployment. This debate centers on whether government regulation or industry liability provides the best guardrail for safety.
What is confirmed
- Scott Bessent stated the U.S. needs more open-source AI models to compete with China.
- Bessent warned that nothing else would matter if China wins the AI race.
- Bessent told Congress he has not seen any AI regulation he would support.
- Bessent believes AI creators should not be relieved of liability for their outcomes.
- Bessent defended the Trump administration's safety stance on AI.
Still unconfirmed
- The United States is willing to discuss AI risks with China.
- AI companies could stop their operations any time they want to.
- Representative Waters had a heated exchange with Bessent regarding AI.
- A Democratic representative asked Bessent to talk sense into Trump regarding AI regulation.
What to watch next
- Introduction of specific AI liability legislation in Congress
- Official diplomatic meetings between the U.S. and China regarding AI risk management
- Proposed shifts in the Trump administration's AI safety framework
confidence 90%Sources used for this update (10)
- Fox Business — Bessent says US needs more open-source AI models to compete with China
- Yahoo Finance — Bessent defends Trump administration's safety stance on AI
- The Hill — Waters has heated exchange with Bessent on AI
- Politico — Bessent: AI companies ‘could stop any time they want to’
- Bloomberg.com — Bessent Warns ‘Nothing Else Would Matter’ If China Wins AI Race
- TradingView — US TSY'S BESSENT Q&A: A.I. CREATORS SHOULD NOT BE RELIEVED OF LIABILITY FOR THEIR OUTCOMES; LIABILITY IS BEST SAFETY SYSTEM
- The Hill — Dem rep asks Bessent to ‘talk sense’ into Trump on regulating AI
- Yahoo — Bessent Tells Congress He Hasn’t Seen Any AI Regulation He Would Support: ‘I Haven’t Seen Anything Yet’
- www.pymnts.com — Bessent Says US May Discuss AI Risks With China
- gizmodo.com — Don’t Give AI Companies What They Want, U.S. Treasury Secretary Tells Lawmakers
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