"Artificial intelligence holds extraordinary potential for both promise and peril," read the order. "Responsible AI use has the potential to help solve urgent challenges while making our world more prosperous, productive, innovative, and secure ... Irresponsible use could exacerbate societal harms such as fraud, discrimination, bias, and disinformation; displace and disempower workers; stifle competition; and pose risks to national security."

Calling the order an "ambitious attempt to accommodate the hopes and fears of everyone from tech CEOs to civil rights advocates," Vox's Sara Morrison reminds of the limits of White House power, noting execution of the Biden vision will depend on the actions of executive branch agencies which could find themselves challenged in court. There's also the legislative branch, which is working on its own plans for regulating AI.

"It's terrible for U.S. innovation," wrote former a16z partner and currently Gensyn Network Head of Operations Jeff Amico, calling the order's reporting requirements "essentially public company reporting for startups building large models."

Pointing to language requiring disclosures when large amounts of computing power are acquired, the order, argued Amico, "Treat[s] compute – an inherently neutral technology – as a dangerous resource that must be regulated."

While the cryptocurrency markets are posting modest gains over the past 24 hours, AI-related tokens are lower across the board. Among the movers are The Graph's [[GRT]], Fetch.AI's [[FET]], SingularityNET's [AGIX] and Ocean Protocol's [OCEAN] – each down 4%-7%.

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Stephen Alpher

Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.