AI Daily News: OpenAI CEO Advocates for Democratizing AI's Economic Benefits in Washington, D.C.

OpenAI CEO Advocates for Democratizing AI's Economic Benefits in Washington, D.C.

OpenAI CEO Sam Altman is set to visit Washington, D.C., to promote the broad distribution of AI's economic benefits. He emphasizes the importance of accessibility and productivity gains from tools like ChatGPT, aiming to balance optimism and caution regarding AI's impact on jobs. Altman will highlight how AI is enhancing productivity, with OpenAI reporting over 2.5 billion daily ChatGPT prompts globally, including 330 million from U.S. users. During a fireside chat with Federal Reserve Vice Chair Michelle Bowman, Altman will advocate for a vision of democratized AI that empowers individuals rather than concentrating power among the elite. This initiative coincides with broader D.C. discussions on AI, including a summit keynoted by President Trump, reflecting a strategic effort to position AI as a tool for economic participation and prosperity. (axios.com)

UK Introduces New AI Audit Standard to Address Unregulated Providers

The British Standards Institution (BSI) is launching a new international standard for auditing artificial intelligence (AI) tools to address concerns over unregulated and potentially unreliable providers in the AI assurance industry. Set to launch on July 31, the standard aims to ensure that audits assessing AI reliability, fairness, and safety are conducted consistently and independently. This move addresses the conflict of interest posed by firms that both develop and audit AI systems, amid a fast-growing AI assurance market valued at over £1 billion in the UK. The BSI warns of a 'wild west' atmosphere due to varying audit quality and lack of standardized practices. The EU AI Act and similar regulations have increased demand for trustworthy AI assessments. Industry stakeholders, including Armilla AI and researchers at UC Berkeley, welcome the new standard, which is expected to shape the future of AI certification and increase confidence among regulators, customers, and investors. (ft.com)

Wall Street Anticipates AI Adoption Beyond Tech Sector to Boost Profit Margins

In the second quarter of 2025, Wall Street is closely monitoring how companies beyond the traditional tech sector are utilizing artificial intelligence (AI) to enhance profit margins. AI adoption appears to be accelerating, potentially driven by margin pressures such as tariffs. Early into the earnings season, some firms are already demonstrating AI's impact on profitability. Investment experts anticipate that companies with strong AI strategies will outperform, while those lagging in AI adoption may face disappointment. Analysts suggest that AI presents a significant opportunity for gains across various industries, offering new tools for automation and efficiency. (axios.com)

Concerns Rise Over AI Chatbots' Impact on Child Development

Pediatricians and psychologists are expressing growing concerns about the developmental risks young children may face from interacting with AI chatbots. While most children under five currently do not use voice-based AI, exposure is increasing, and experts stress the need to understand its effects early to avoid unintended consequences. Interactions with generative AI are particularly troubling because they could impact how children develop crucial skills such as trust, empathy, and social bonding. Experts warn that these interactions could fundamentally alter brain development, as chatbots often respond with affirming feedback, potentially distorting real-world communication expectations. On the positive side, research suggests that engaging with AI through story-based dialogues can enhance vocabulary and comprehension in children. However, these benefits come with a caveat: such interactions might displace essential human engagement and activities critical for healthy development. Overall, the article emphasizes the need for careful evaluation of AI's role in early childhood environments. (axios.com)

Google Launches 'AI Works for America' Initiative to Train Workers in AI Skills

Google has announced the launch of 'AI Works for America,' a new initiative aimed at training American workers and small businesses in essential artificial intelligence (AI) skills. The program's first phase, 'AI Works for Pennsylvania,' was introduced during the inaugural Pennsylvania Energy and Innovation Summit, organized by Sen. Dave McCormick. Google envisions this training as a way to build an 'AI-empowered U.S. workforce' and help Americans adapt to the growing influence of AI technologies in the job market. While Google has a history of offering skills training, the stakes are higher now as AI continues to impact employment, with some jobs already disappearing and uncertainty surrounding the future workforce landscape. Google executive Ruth Porat emphasized that the company’s investment will enhance energy resources and equip Americans with the skills needed to succeed in the AI era. The initiative reflects a growing acknowledgment of the need for proactive measures to support workers amid the rapid rise of AI. (axios.com)