US and China to cooperate on AI safety

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Today we start with an exclusive interview with Joe Biden’s advisers on the regulation of artificial intelligence.

Arati Prabhakar, director of the White House Office of Science and Technology Policy, told the Financial Times that the United States and China will work together in the coming months to reduce the risks associated with rapidly evolving technology.

“We are at a moment in time when everyone understands that AI is the most powerful technology…every country is willing to use it to build a future that reflects its values. We are prepared,” Prabhakar said.

“But I think the one thing we can all really agree on is that we want to have a safe and effective technology base,” she added.

The comments mark a rare moment of cooperation amid trade tensions between the two countries. Read the full interview.

• Future work: As advances in AI threaten jobs around the world, the FT has launched a series looking at what roles will be in demand over the next decade and how employers can prepare for them.

• FT Live: Next week, the FT will host in-person and online discussions on how to foster AI-related collaboration with start-ups, NGOs, academics and think tanks. Register here.

Here are some other things I’m focusing on today:

• Economic data: The U.S. government releases the first gross domestic product figures for the fourth quarter. Treasury Secretary Janet Yellen is also scheduled to speak at the Chicago Economic Club.

• Company: Blackstone is the newest financial services company to release its annual results. Several airlines, including American Airlines and Southwest Airlines, Comcast, Northrop Grumman and Intel have also reported.

• Financial policy: The European Central Bank is expected to leave interest rates unchanged when it announces its decision today. To find out more about rate setters’ fight against inflation, premium subscribers can sign up to the central bank newsletter from Chris Giles. Or upgrade your subscription here.

5 more top articles

1. Tesla stock is under pressure in pre-market trading after the electric car maker said sales growth in 2024 will be “significantly lower.” Chief Executive Officer Elon Musk confirmed that the company is preparing to begin production of a new low-cost car in the second half of 2025. But after years of rapid growth, the results reflect slowing global demand for electric vehicles and increasing competition.

2. Boeing shares are also trading below yesterday’s close after the Federal Aviation Administration blocked the airline group from expanding production of the popular 737 Max. “To be clear, this does not mean Boeing is going back to business as usual,” FAA Administrator Michael Whitaker said. The company previously said it wanted to increase production of the 737 Max to 38 planes a month by the end of 2023 and 50 planes a month by 2025 or 2026. The full story is as follows.

3. Donald Trump warned donors that if they gave any more money to Nikki Haley’s campaign, they would be “kicked out” of his “MAGA camp.” Or “Birdbrain,” as he called her in a post on the Truth Social site. “Anyone who ‘contributes’ to Birdbrain will now be permanently banned from the MAGA camp,” Trump wrote. Haley replied:

4. Cigna Group company transfers more than 300 million euros to two companies linked to Austrian founder René Benko before the real estate giant’s collapse, according to financial documents reviewed by the FT. The collapse of Cigna, whose portfolio also includes shares in London’s Selfridges and New York’s Chrysler Building, is a high-profile indicator of the stress across Europe’s commercial real estate market as interest rates rise. Please read the full text.

5. EU farmers, egged on by the far right, began throwing mud outside government buildings. Brussels has barricaded roads and caused widespread chaos as it struggles to sustain the green transition of its agricultural sector. European Commission President Ursula von der Leyen has begun consultations with representatives of agricultural organisations, NGOs and financial institutions as the issue rises to the political agenda in the run-up to June elections. Read more about the growing protests.

big reading

In 2017, journalist Samantha Cole introduced the world to deepfakes with the sentence, “There’s a video of Gal Gadot having sex with her stepbrother on the internet.” Since then, there have been more and more warnings about the technology, and cynicism has become even more widespread. In a critical year of elections around the world, Tim Harford investigates the disturbing world of new audio and video technology.

I’m also reading. . .

• Trump’s dealings with Wall Street: Many business leaders have made the mistake of downplaying the risk of a second term for the former Republican president, writes Edward Luce.

• South African Jews: In a community whose members played a prominent role in the fight against apartheid, many are watching with anxiety as the government pursues a landmark genocide against Israel.

• Wire card: Four years on, legal protections for whistleblowers have improved, but German companies still have much to learn from the scandal, writes Olaf Storbeck.

vote of the day

Bank of America sent “education letters” to employees who didn’t show up to the office, warning them of disciplinary action. The letter is the latest step by large companies to bring employees back to work. Do you think banks are right to step up enforcement action and require employees to return to the office? Vote in our latest poll.

Take a break from the news

If you want to really make it in the bar world these days, you need a snack menu from a celebrity chef, writes FT drinks expert Alice Lascelles. These cocktail bars will make you rethink your dinner plans.

With Tee Zhuo benjamin wilhelm