President Donald Trump has announced plans to create a new federal “AI Force” and appoint an artificial-intelligence czar, responding to intensifying debate inside the technology industry and his own administration over how the United States should manage increasingly powerful AI systems. Trump compared the proposed organization with the Space Force...
Jane Street’s $15 Billion Loss Triggers New Scrutiny of Wall Street’s Hidden Trading Risks
The U.S. Federal Reserve and the Bank of England are reportedly intensifying scrutiny of global banks’ exposure to major trading firms after extraordinary market turmoil left Jane Street with losses of roughly $15 billion in July. The regulatory attention follows the near-collapse of Situational Awareness, an artificial-intelligence-focused hedge fund managed...