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The Markets
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Elon Musk says there's an 'overwhelming consensus' in favour of AI regulation

Elon Musk, CEO of Tesla, stated that there is an "overwhelming consensus" on the need for artificial intelligence (AI) regulation following a closed-door meeting in Washington with US lawmakers and tech industry leaders.

The gathering, convened by Senate Majority Leader Chuck Schumer, included Meta's Mark Zuckerberg, Google's Sundar Pichai and Microsoft's Satya Nadella.

The discussion focused on the potential benefits and drawbacks of AI technology.

Sam Altman, CEO of OpenAI, had previously testified before a US Senate committee about the risks associated with AI, including mass layoffs, increased fraud and the spread of misinformation.

Concerns were also raised about AI companies using data from the internet without permission or compensation to creators.

Musk has previously advocated for the establishment of a regulatory body to oversee AI, while Zuckerberg has emphasised the need for Congress to support both AI innovation and safeguards.

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