AltSignals presale hits $1.21M as AI firms agree to safeguards in the US

The artificial intelligence (AI) gold rush is gathering steam by the day as more and more businesses and entrepreneurs jump onto the bandwagon. The latest entrants are Elon Musk’s recently launched xAI, which the tech mogul said its main objective is to understand the true nature of the universe and Meta Platforms’ (NASDAQ: FB) Llama 2.

AltSignals, a company that is well known for providing trading signals, is also working on an AI blockchain-powered platform to streamline its trading signals generation. It is currently conducting a presale for the ASI token, which is the backbone of the AI ecosystem. If interested, you can buy the ASI cryptocurrency here.

AI companies in the US agree to implement safeguards

There has been increased pressure to tighten the regulations governing artificial intelligence following the hype around the technology. There is a general feeling that if unchecked, AI would negatively impact people’s lives.

A number of counties and regions are currently working on AI regulations to check the growing AI market. The main legislative branch of the European Union recently passed the EU AI Act, which is the first comprehensive regulation on artificial intelligence around the world.

In the US where a majority of the leading AI companies are domiciled, seven companies have agreed to implement safeguards to manage the risks posed by the technology. According to the White House, seven of the top artificial intelligence companies have committed to managing the risks associated with AI. This will entail evaluating the security of AI and publishing the findings of those evaluations.

The companies include Amazon (NASDAQ: AMZN), Anthropic, Google’s Alphabet Inc (NASDAQ: GOOGL), Inflection, Meta, Microsoft Corp (NASDAQ: MSFT), and OpenAI. The announcement was made by the companies’ executives alongside US President Joe Biden.

The move comes after a number of cautions regarding the technology’s capabilities.

US white house push for AI regulations

Fears about the spread of misinformation have been raised as a result of the companies’ rapid AI tools development, particularly leading up to the 2024 US presidential election.

In Friday’s remarks, President Joe Biden said that they “must be clear-eyed and vigilant about the threats emerging from emerging technologies that can pose – don’t have to but can pose – to our democracy and our values.”

According to Sir Nick Clegg, president of global affairs at Meta, the hype around AI “has somewhat run ahead of the technology.”

What did the seven AI companies agree to do?

The agreement signed by the seven companies at the White House requires that AI systems undergo internal and external expert security testing before they are released, watermarks are used to help people recognize content generated using AI, the AI strengths and weaknesses are disclosed, and the danger posed by the AI tools is investigated.

The White House added that the intention is for people to be able to tell with ease when online content is produced by AI. The president said they had a serious responsibility and they have to get it right.

What impact does the agreement have on AltSignals?

Well, while AltSignals was not among the seven companies that signed the agreement, any laws affecting the use of artificial intelligence will definitely affect its AI ecosystem. To start with they will have to ensure that the AI platform complies with all the regulations set in place.

However, as it stands, AltSingals has been operating for over five years and has not had any run-ins with regulators around the world, which is a great proposition for investors looking to buy its new ASI cryptocurrency.