In October, I explained that China and Russia are ready to use artificial intelligence (AI) to threaten the United States’ military advantage. And we had no plan whatsoever to do anything about it.
That all changed last week.
On February 11, President Donald Trump signed an executive order to launch the American AI Initiative.
The order asks federal agencies to prioritize AI research and training.
They will “develop and implement an action plan to protect the advantage of the United States in AI … against strategy competitors and foreign adversaries,” says the White House’s press release.
The federal government already has plans to spend billions of dollars on AI in the coming years. And a lot of that money will be going to tech companies across the country.
That’s big news if you’re looking for a life-changing investment opportunity.
America’s New Agenda
Last year, the Department of Defense created the Joint Artificial Intelligence Center (JAIC).
The JAIC researches AI and works on projects for the military. It also offers AI expertise for the Pentagon and all branches of the military.
The JAIC’s projected budget for 2019 is $89 million. But it’s expected to balloon to $414 million in 2020. That’s a 365% increase in just one year.
In addition, the American AI Initiative has five main agendas:
- Increase Spending: “Prioritize federal AI spending on cutting-edge ideas that can directly benefit the American people.”
- Preserve Safety: “Maintaining the safety, security, civil liberties, privacy and confidentiality protections we all expect.”
- Promote Trust: “Foster public trust in AI systems by establishing guidance for AI development.”
- Create Training: “Prioritize fellowship and training programs to help American workers gain AI-relevant skills.”
- Ensure American Values: “Ensuring that the technology is developed in a manner consistent with our nation’s values and interests.”
Items 2, 3 and 5 seem to indirectly reference ethical concerns over combat drones.
Last year, thousands of employees at Google signed a letter protesting the company’s involvement in developing AI for drone strikes.
Going forward, the Department of Defense aims to have a better relationship with tech companies. After all, many of the world’s top AI experts work at industry titans such as Google.
The Defense Department is “going to try to reach out and convince as many companies as possible to work on some of those issues,” says former Deputy Security of Defense Bob Work.
The tech companies that benefit from increased government spending could see exponential growth.
The Coming AI Boom
One recent report shows that American tech companies have openings for more than 10,000 AI-related jobs.
And as AI continues to advance, its uses will grow outside of military applications.
It will transform every aspect of work, home and society … creating previously unimaginable fortunes along the way.
Fortunately, some of these companies still have cheap stock prices today. That means you have the opportunity to buy shares now before Wall Street catches on and sends these stocks skyrocketing.
Total Wealth Insider Editor Jeff L. Yastine and Crypto Profit Trader Editor Ian King are focused on bringing you the best investments the tech sector has to offer.
At Sovereign Investor Daily, we’re focused on bringing you the best investments the tech sector has to offer. So keep tuning in for the latest updates from our team.
For those who want in now, be sure to follow Total Wealth Insider Editor Jeff L. Yastine, who has zeroed in on some big tech trends and more for his readers.
Assistant Managing Editor, Banyan Hill Publishing