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China has become one of the first nations to regulate the technology that drives well-known services like ChatGPT, having published new regulations for generative artificial intelligence (AI). This followed Elon Musk’s Wednesday announcement about the debut of xAI, a new AI company that will focus on understanding the “true nature of the universe.”

The top internet watchdog in China, the Cyberspace Administration of China, unveiled a set of updated rules on Thursday to regulate the exploding market that has captured the attention of the entire world. The regulations will go into effect on August 15th just in time to regulate the many upcoming AI-powered projects like AltSignlas’ ActualizeAI AI ecosystem.

The published version, which is being referred to as “interim measures,” appears to have loosened several previously announced provisions in comparison to a preliminary draught released in April. This suggests Beijing sees an opportunity in the developing industry as the nation seeks to re-ignite economic growth to create jobs.

Just last week, fintech giant Ant Group was fined just under $1 billion by Chinese regulators. However, it appears that could be the last Chinese giant to face the full force of the regulators about AI. A large number of Chinese tech giants including Alibaba Group Holding Ltd (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), and JD.COM (NASDAQ: JD) are currently working to release their own AI chatbots.

Initially, the regulations will only apply to services offered to the general public in China. Exemptions apply to technology created in research institutions or intended for users abroad. The new law has done away with fines of as high as 100,000 yuan ($14,027) for violations.

However, generative AI service providers will be required to conduct security reviews and register their algorithms with the government if their services are capable of influencing public opinion or can “mobilize” the public.

At the same time, Elon Musk, the founder and CEO of Tesla, SpaceX, and Twitter, has announced the launch of xAI with the aim of “understanding the true nature of the universe.” On Friday, Musk and his team provided more details in a live Twitter Spaces chat about the business.

The team members of xAI have worked on projects like DeepMind’s AlphaCode and OpenAI’s GPT-3.5 and GPT-4 chatbots. They are former employees of DeepMind, OpenAI, Google Research, Microsoft Research, Twitter, and Tesla Inc (NASDAQ: TSLA).

Musk’s xAI will be competing with leading AI chatbots like ChatGPT, Bard, and Claude, companies like OpenAI, Google, and Anthropic.

The news of Musk’s AI company first broke in April, along with rumours that Musk had purchased thousands of GPU processors from Nvidia to power a potential large language model. During a recorded interview on Fox News Channel that same month, Musk discussed his ideas for a new AI tool called “TruthGPT” and added that he was concerned that existing AI companies were favouring “politically correct” systems over others.

Last week was full of AI-geared activities. It started with AltSignals’ ASI presale moving to Stage 2 followed by the unveiling of the new AI Company by Musk and closed with Chin unveiling its new rules to govern the generative AI industry.

AltSignals is standing stands tall among trading signals providers, thanks to the incredible plans for ActualizeAI — an advanced crypto-powered artificial intelligence system that’s poised to drive the trading signals industry to the next level.

Over the years, AltSignals has been a hub for cutting-edge trading technologies and inter-community cooperation, so its new ASI cryptocurrency is more than just an investment.

AltSignals is currently conducting a presale for the ASI token, whose value is increasing through the presale stages, as the startup works to raise $12,150,000 for additional development.

An array of features and advantages are made available to investors who take part in the AltSignals presale the main one being using the ASI tokens to gain access to the ActualizeAI ecosystem.

The post China publishes generative AI laws as 52% Stage 2 of AltSignals Presale sells out appeared first on Invezz.

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