Photographer: Al Drago/Bloomberg

On October 30, 2023, President Biden took a major step in regulating the use of artificial intelligence (AI) with the issuance of the "Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence." The executive order is lengthy and identifies several areas of concern with the use of AI, including cybersecurity, competition, labor, health, privacy, and education. While the executive order is focused on directing the federal agencies to achieve the goals outlined within the document, it is evident that this will have a broad impact on private entities as well.

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