The $43B Big Pharma Story is Starting Over-With a New Player

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Chuck Schumer Offers To Provide AI Regulation Framework For Healthcare, Labor Rights, And 'Doomsday Scenarios' As US Looks To Catch Up With EU

Rounak Jain
May 09, 2024

Senate Majority Leader Chuck Schumer (D-N.Y.) has announced plans to introduce a legislative roadmap for AI regulation in the U.S., looking to catch up to the European Union which unveiled its framework in March.

What Happened: Schumer revealed his plans during an AI summit in Washington, D.C. on Wednesday, Reuters reported. The roadmap will be based on expert input and will be used to draft piecemeal legislation on issues such as intellectual property, labor rights, healthcare, and potential “doomsday scenarios” associated with AI.

Schumer's roadmap, expected to be released in the next few weeks, will address the potential risks and benefits of AI, including its impact on elections and national security.

According to Schumer, the roadmap will provide guidelines and ideas for Congress to proceed, with different committees translating these into concrete legislation.

He emphasized the need for the U.S. to address AI regulation, particularly in light of China’s advancements in AI technology.

The Biden administration and lawmakers have been pushing for AI regulation, citing concerns about its potential impact on elections and national security.

Schumer highlighted the urgency of the situation, warning that China’s AI technology, focused on areas like facial recognition and surveillance, could surpass that of the U.S.

See Also: Meta’s Chief AI Scientist Reveals Mark Zuckerberg Was ‘Snubbed’ From Biden’s AI Safety Institute; Elon Musk Also Missing From The List

He also stressed the potential for AI to be used for malicious purposes, such as creating bioweapons or launching cyber attacks. To address these concerns, Schumer proposed a piecemeal approach to AI regulation, with different committees taking the lead on specific issues.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Why It Matters: The U.S. has been lagging behind in AI regulation, with the EU taking the lead by endorsing the world’s first comprehensive regulatory framework for AI.

Meanwhile, the U.S. and the U.K. have signed a bilateral agreement to address the safety concerns surrounding AI, aiming to evaluate and regulate the potential risks associated with emerging AI technology.

However, the U.S. has faced criticism for its unclear plans for AI regulation, with prominent figures like Paul Graham expressing skepticism over the government’s approach.

Moreover, the U.S. is also considering new regulations to restrict China’s access to advanced AI software, such as that used in ChatGPT. These regulations would limit the export of proprietary or closed-source AI models, aiming to safeguard U.S. AI from China.

Check out more of Benzinga's Consumer Tech coverage by following this link.

Read Next: Tesla Investor Ross Gerber Calls Warren Buffett ‘Tough As Nails Businessman’ After Berkshire Hathaway Dumps Apple

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock

Continue Reading...

Popular

Why Falcon's Beyond Stock Is Jumping Today

Falcon's Beyond shares surge on Tuesday after the company was preliminarily slated for Russell 2000 inclusion, boosting visibility despite ongoing losses.

Salesforce Q3 Preview: Record Revenue Predicted, Can Shares Recover After 30% Drop In 2025?

Salesforce shares are down in 2025. The company's Q3 results and Q4 guidance could see shares volatile in the last month of the year.

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Samsung Vs Apple: The Foldable Phone War Just Went Nuclear

Samsung just launched a game-changing foldable phone, putting pressure on Apple's rumored foldable iPhone. Will foldables become mainstream?

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Will Santa Claus Rally Fail? Wall Street Divided Amid Mounting Volatility, Bearish Options Activity

Analysts offered mixed signals on the S&P 500's near-term outlook making a Santa rally uncertain, pointing to potential volatility, amid atypical seasonality and rising bearish options sentiment.

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Trump commutes prison sentence for former private equity executive David Gentile

HALLANDALE BEACH, Fla. (AP) — President has commuted the prison sentence of former investment manager David Gentile, who was convicted of defrauding investors — the latest in a Trump has taken in .

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Bitcoin Income Crushes Dividend Stocks - Ad

Why tie up $400,000 in Pepsi for a $1,200 a month payout when one little-known Bitcoin fund can deliver the same with just $30,000?

JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026

Analysts at JPMorgan have pinpointed the lowest point of the ongoing Bitcoin (CRYPTO: BTC) price fall and also projected a substantial chall

Tax-Free Student Loan Forgiveness Expires In 2026, Who Owes More Next Year?

The American Rescue Plan Act of 2021 will make most student loan forgiveness tax-free until 2025, then borrowers may owe thousands in taxes.

Trump's Crypto Law Just Created a Massive Opportunity - Ad

Trump's newly signed GENIUS Act gives crypto its first official federal framework. While attention stays on Bitcoin, one overlooked coin could benefit the most-backed by skyrocketing volume, early fund activity, and pro-crypto policy momentum.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Bitcoin Just Humbled Jeff Bezos - Ad

Bitcoin just passed Amazon in market cap - yet most investors are making one big mistake: just buying and holding. Larry Benedict's "Bitcoin Skimming" method could deliver 6x, 9x, even 22x the gains. Don't miss out.

OpenAI's Partners Rake Up $96 Billion Debt as AI Industry's Borrowing Trend Escalates

Companies supplying data centers, chips, and processing power to OpenAI have racked up a staggering $96 billion in debt to fund their operations.

Most Bitcoin Holders Have No Idea This Exists - Ad

I call it "Bitcoin Skimming"... and it allows you to "skim" cash into your account thanks to 2025's surging Bitcoin market. You don't have to buy or sell Bitcoin. Not one single penny's worth. In my latest video briefing, I'll give you everything you need to "skim" your first payout -- and it won't cost you a penny.

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

Bitcoin dips below $85,000 in crypto currency rout

and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued.

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Weekend Round-Up: Airbus Chaos, BYD's Massive Recall, Tesla's Free FSD Rides, Rivian's Tax Credit Silver Lining And More

From emergency aircraft recalls to massive vehicle recalls in China, to free self-driving rides in Europe, the past week was buzzing in the auto and tech sector.

Rand Paul Slams GOP's Shift From Fiscal Conservatism: They Voted To Add '$5 Trillion' To The Debt Ceiling — Calls It 'Decimation'

Sen. Rand Paul (R-Ky.) slammed the Republican Party for abandoning the fiscal discipline it once championed, while accusing his colleagues of embracing massive governmental deficits and greenlighting spending levels they previously opposed.

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

DOJ Greenlights Strikes on Drug Boats, Citing Fentanyl as Potential Chemical Weapon

The DOJ has classified Fentanyl as a potential chemical weapon. This classification has led to the authorization of strikes on drug-smuggling boats.

Apple Announces Major Changes: New iPhone Models and Altered Release Schedule

Apple has announced plans to roll out three new iPhone models within the next three years, marking a major transformation in the history of the device.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

What's Going On With Home Depot Shares Monday?

Home Depot, Inc. (NYSE:HD) shares are bouncing around Monday ahead of earnings later this week. Here's what you need to know.

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service