2026-09-21 · Source: Insurance Journal
Summary in 3 Points • President Trump announced plans to appoint a new AI adviser, the 'AI czar' • Trump has downplayed AI risks and opposes additional regulation on the industry • US and China are competing for AI leadership, impacting economic and military strength --- President Donald Trump announced via social media that he intends to appoint a new 'AI czar' and establish an 'AI force', though he did not provide specific details on these initiatives. This announcement comes amidst growing concerns in Washington about the potential risks AI technology poses to humans and property. Trump, however, has consistently downplayed these concerns, arguing against additional regulation. The announcement precedes a scheduled meeting with Chinese President Xi Jinping, highlighting the competition between the US and China for AI leadership, which both nations consider crucial for their economic and military prowess.
The appointment of a new AI adviser by President Trump could signal shifts in US policy towards AI regulation, which may influence global standards. For the London Market, this could affect underwriting practices related to AI technologies, particularly if US companies gain a competitive edge through less stringent regulations. Additionally, the ongoing US-China competition in AI could impact global trade dynamics, potentially affecting insurance coverage for technology exports and imports. Insurers may need to consider the geopolitical risks associated with AI development and deployment in their risk assessments.