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

The order required developers of AI systems posing risks to national security, the economy, public health or safety to share the safety test results.

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.”

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.

Biden’s EO established industry reporting requirements on the riskiest systems.

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.

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.

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