The Trump-Backed AI Initiative for America First aims to promote an 'America First' approach to AI, ensuring the US maintains global leadership while countering China's growing tech dominance. Founded by James Burnham, a former senior White House and DOJ official, the AI Innovation Council advocates for sensible regulatory frameworks that balance oversight with opportunity, empowering entrepreneurs and companies to develop world-changing AI products in the US.
US President Donald Trump plans to unveil an 'AI Action Plan' inspired by Silicon Valley ideas, drawing criticism from a coalition of 95 groups who oppose industry-driven policies that prioritize Big Tech companies and may harm workers, air and water quality, and children. The plan aims to boost innovation and infrastructure in AI, but critics argue it will only benefit the tech industry, with some warning that policymakers have underestimated the impact of AI on jobs.
The state of Virginia is implementing a new regulatory framework that utilizes artificial intelligence (AI) to streamline periodic reviews of its regulations under the Virginia Administrative Process Act. This approach aims to assess the statutory sanctions, redundancy, and similarity to neighboring states' regulations, as well as identify opportunities to eliminate unnecessary verbiage while maintaining the same goals.
The accounting profession is expected to undergo significant changes driven by AI adoption. According to the ACCA, four key trends are emerging: a shift from routine processing to strategic decision-making, evolving mid-level roles that incorporate more judgment and client interaction, and new responsibilities at the intersection of accounting, technology, and strategy. The organization believes that AI will not replace finance professionals but rather change their roles, requiring them to assess where AI adds value, establish clear policies and governance, and develop complementary skills. With increasing investment in AI initiatives and widespread cloud adoption, AI adoption is expected to accelerate, particularly among organizations reviewing workforce needs and opportunities.
A safety app called Bark Technologies has sent alerts to parents about their children being in harm's way, leading investigators to a child and a suspect named Painter. The app, launched in 2015, uses AI-powered monitoring to protect children online and offline. Its system flags serious threats, which are then reviewed by human teams to determine if law enforcement involvement is needed. The technology was used to save a child's life, according to Bark Technologies' CEO Titania Jordan, who said the app's alerts have been "credible" and have helped prevent potential harm.
BCC Research has released a new report titled "2024 AI & IoT Technology Review" highlighting the transformative impact of AI and IoT on various industries, driven by significant market growth and technological advancements, as showcased in Boston.
A wave of AI-powered no-code tools is transforming the way small businesses handle their back offices, empowering solo founders, accountants, and operations managers to build custom finance stacks without writing traditional code. Companies like Household.tv, a boutique marketing agency in Manhattan, are using these tools to automate key functions such as invoice generation and bill reminders. Founder Greg Schwartz used an AI-coding tool to create a script that integrates with his back office, automating invoice creation for each project, reducing time spent on manual tasks from hours to minutes.
Sen. Josh Hawley (R-MO) and Sen. Richard Blumenthal (D-CT) have introduced the AI Accountability and Personal Data Protection Act, which would require AI companies to obtain explicit consent from individuals before using their copyrighted material in training models or personal data without prior permission. This legislation aims to protect individuals' rights by allowing them to sue companies that misuse their data or intellectual property.
Huntington Ingalls Industries (HII) is addressing labor challenges in the ship manufacturing industry by leveraging artificial intelligence (AI). A cohort-led project, led by interns at HII's corporate office, aimed to explore how AI can enhance current processes. The team conducted research, interviews, and surveys across departments, resulting in a comprehensive presentation for senior leadership.