President-elect Donald Trump is reportedly considering the creation of a new role, an AI czar, to guide federal policy and government utilization of artificial intelligence. Elon Musk, although not a candidate for the position, is anticipated to have a significant impact on AI policy and its applications.
What Happened: The appointment of an AI czar is expected but not yet finalized. Musk, along with Vivek Ramaswamy, is leading Trump's Department of Government Efficiency (DOGE) and will play a key role in the selection process for the AI czar, Axios reported on Tuesday.
The AI czar's duties would involve coordinating public and private resources to ensure the U.S. remains a leader in AI. This role might also include working with agency chief AI officers and DOGE to tackle issues such as waste and fraud. The concept of an AI czar has been under discussion for several months as part of Trump's transition plans to focus on emerging technologies.
Why It Matters: The potential appointment of an AI czar comes amid Trump's broader energy and technology strategies. His administration's push for fossil fuels could address AI's increasing energy demands, yet his stance on nuclear energy remains unclear. Trump initially supported nuclear energy, advancing several microreactor projects during his first term, but has recently expressed concerns about its risks in a conversation with Joe Rogan.
Recently, $NVIDIA (NVDA.US)$ CEO Jensen Huang mentioned that global cooperation in technology would continue despite potential export controls on advanced computing products by the incoming U.S. administration.
Additionally, Trump's return to the White House could significantly benefit Tesla Inc.'s AI initiatives. According to Wedbush Securities analyst Dan Ives, Trump's presidency might unlock substantial AI valuation for Tesla, despite potential challenges for the broader electric vehicle sector.
Price Action: As per Benzinga Pro, at 7:51 am ET, Nvidia was trading 1.21% higher, $Advanced Micro Devices (AMD.US)$ was up by 1.04% while $Arm Holdings (ARM.US)$ was up by 0.37%.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
