US Treasury chief Bessent says biggest AI risk is China getting ahead
US Treasury Secretary Scott Bessent told the Economic Club of New York that the "biggest risk" of artificial intelligence is China overtaking the United States, ranking that ahead of safety or job-displacement concerns.
In closing remarks Bessent said "I am one of the point people on our AI policy. I am the point person in terms of the economic" file, and argued Beijing's willingness to discuss AI underscored America's technological lead. He defended chip export controls as a tool to "maintain pace" rather than restrict.
His remarks followed Beijing's announcement a day earlier that it had overtaken the United States in the rankings of the world's fastest supercomputers. The Information Technology and Innovation Foundation says China has now passed the US in AI patent filings, while the US retains the lead on frontier large language models and graphics processors.
Nvidia gained about 1.1% and Broadcom 0.8% in the New York session. The White House said an additional AI executive order, covering manufacturing and export licensing, was being drafted.
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