US looks to establish rules for AI
After the recent rise in popularity over OpenAI’s ChatGPT, countries are now looking to regulate this industry to prevent data breaches and subdue how much access the AI platform have of people’s personal data. There has been a recent wave of pushback at the government level, with Italy being the first country in the EU to question the platform. As they look re-enforce the GDPR laws put in place by the European Union back in 2016.
The US commerce department on Tuesday announced it is officially requesting public comment on how to create accountability measures for AI, seeking help on how to advise US policymakers to approach the technology. “In the same way that financial audits created trust in the accuracy of financial statements for businesses, accountability mechanisms for AI can help assure that an AI system is trustworthy,” said Alan Davidson, the head of the National Telecommunications and Information Administration (NTIA), at a press conference at the University of Pittsburgh.
In order for the government to gain one step ahead of the curve, policies need to made sooner rather than later. All other traditional industries such as telecommunications, Gas & Oil and in recent times, Cryptocurrencies are regulated, or steps are being made in increase regulation by the US government. Full adaptation of these AI chatbots into the supply chain will take time, as we are still in times of uncertainty in this space.
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GM invests in EnergyX to boost EV materials supply
General Motors (GM) is investing in lithium producer Energy Exploration Technologies Inc. as part of a new supply deal between the two companies. The deal will see GM granted exclusive lithium supply from EnergyX’s contracted mining companies in North America and South America, according to a press release. There mines have operations in the South American Lithium Triangle Bolivia, Chile, and Argentina. Whereas the processing occurs in their new laboratory in Austin, Texas. GM will also finance additional lithium production projects on the two continents.
The invest by GM is said to be in excess of $50 million and that sum should go towards the construction of the 40,000-square-foot innovation and manufacturing facility in Texas. This investment by GM is seen to be an attempt to re-affirm their position in electric vehicle (EV) market. Jeff Morrison, GM vice president of global purchasing and supply chain, said as much in a statement “We are committed to securing EV critical minerals that are sustainable and cost competitive to maintain our leadership position among automakers.”
This is GM’s second time in recent months securing exclusive mining contracts with lithium mining companies. In January, the company announced plans to invest $650 million in Canada-based lithium mining specialist Lithium Americas, which included a partnership to develop the Thacker Pass mine in Nevada, which we covered in a previous weekly wrap-up.
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Boeing’s 737 Max faces supply chain issues
Boeing has said it faces delivery delays on a significant number of its 737 Max planes over a production issue in their supply chain. They’ve stated that the issue will likely affect a large number of undelivered 737 MAX airplanes both in production and in storage and could result in lowered 737 MAX deliveries in the near term.
The problem, which affects a portion of the 737 MAX family of airplanes, including the MAX 7, MAX 8 and MAX 8200 airplanes as well as the P-8 Poseidon maritime surveillance aircraft based on the 737 NG, is not a safety of flight issue and in-service planes can continue to operate, Boeing said. There have been other issues affecting the company in recent times as in February, the plane maker had to temporarily halt deliveries of its 787 Dreamliner jets to conduct additional analysis on a fuselage component.
After this recent announcement shares in the company fell more than 5%. A reason for the recent turmoil could be a result of the demand for air travel increasing since Covid-19 restrictions have been lifted. Airlines worldwide are competing for resources to meet demand.
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