President Trump’s action revoking former President Biden's executive order on AI safety raises expectations for corporate boards to closely monitor technology risks.

U.S. President Donald Trump on Monday revoked a 2023 executive order signed by Joe Biden that sought to reduce the risks that artificial intelligence poses to consumers, workers and national security.

Read about President Trump's executive order that directs the development of an AI action plan and revokes existing directives.

The order calls for the development of an AI action plan and sets up a process for revoking actions taken under President Biden’s previous AI executive order signed in October 2023.

The order has ignited debate over the balance between fostering innovation and addressing critical issues such as privacy, security, and ethical standards.

Donald Trump axed all that yesterday as he signed a flurry of new executive orders. One of his first actions was to rescind 78 Biden-era executive actions, including Executive Order 14110 on “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.”

Biden's Executive Order 14110 of Oct. 30, 2023 was aimed at developers of "the most powerful" AI systems. It required reporting of potential AI risks and sharing of results of their red-team safety tests with federal agencies.

Titled "Removing Barriers to American Leadership in Artificial Intelligence," this new order follows after Trump revoked the Biden Administration's 2023 AI safety order, which was intended to make sure these systems don't harm national security or humanity itself.

U.S. President Donald Trump on Thursday signed an executive order related to AI to "make America the world capital in artificial intelligence," his aide told reporters in the White House's Oval Office.