Leading artificial intelligence firms, including OpenAI, Google, and Anthropic, are collaborating on the creation of an industry-led standards body. This initiative aims to establish regulatory oversight for the rapidly expanding sector, driven by mounting concerns over safety and a perceived reluctance by the United States government to enforce stricter controls.
OpenAI announced on Tuesday that it is partnering with major competitors Anthropic and Google on the proposal. The concept was originally championed in July by Demis Hassabis, head of Google DeepMind, who suggested modeling the organization after the Financial Industry Regulatory Authority (FINRA), which currently supervises US brokers and investment firms. Hassabis advocated for a federal entity tasked with testing high-capability AI systems prior to public release, proposing that the industry itself fund the effort to secure top technical talent and computational resources.
The push for regulation follows a series of stark warnings from former employees at leading AI developers. Jacob Coxon, a former OpenAI researcher who recently resigned from Anthropic, stated that companies are “gambling with our lives.” Similarly, Bilal Chughtai, a former Google DeepMind researcher, warned on Monday that AI poses an existential threat and that time to prevent catastrophe may be running out.
Senior industry figures have also voiced alarm. Anthropic CEO Dario Amodei called for a slowdown in development over the weekend, a stance supported by OpenAI CEO Sam Altman, Elon Musk of xAI, and Hassabis.
In contrast, President Donald Trump has rejected these apprehensions, characterizing the warnings as “hoaxes” and part of a “conspiracy.” A Republican-controlled Congress, narrowly held by Trump’s party, has not taken legislative action. Political analysts note that with midterm elections approaching, significant regulatory moves are unlikely despite voter concerns about AI and the energy demands of data centers.
Trump’s dismissal has received praise from Nvidia CEO Jensen Huang, whose chips power most AI systems. Huang described the predictions of human extinction as unscientific. However, some Republican leaders, including Vice President JD Vance, have expressed caution.
Smaller competitors have raised concerns that self-regulation could disadvantage them. Aidan Gomez, chief executive of Canadian AI firm Cohere, accused dominant US labs of forming a “cartel” under the pretext of safety. Gomez argued that while guardrails are necessary, the central conflict concerns who writes the rules and whose interests they serve.
Calling safety warnings hoaxes while experts resign in protest is a terrifyingly bold stance from the White House.
Self-regulation by the very companies causing the risk seems like a conflict of interest waiting to happen.