President Donald Trump is reportedly planning a speech on America’s artificial intelligence plans, Bloomberg reported Tuesday (July 15), calling the address Trump’s “biggest statement” on AI.
The speech is scheduled to happen at a July 23 event dubbed “Winning the AI Race,” the report said. It’s being organized by White House AI and crypto czar David Sacks and his cohosts on the All-In podcast.
The White House is finalizing its AI action plan, something Trump ordered soon after taking office in January. Due for release this month, the plan has come together with industry input under the guidance of Sacks and White House technology adviser Michael Kratsios, according to the report.
Trump is expected to sign an executive order after the plan is released to put its policies into practice, the report said, citing an unnamed source. Trump was also due to visit Pennsylvania Tuesday to discuss new investments in AI and energy infrastructure.
During his campaign last year, Trump showed an interest in AI, promising to reverse rules covering the technology that were imposed by President Joe Biden.
Upon beginning his second term earlier this year, Trump repealed Biden’s 2023 order that required safety testing requirements and transparency reports from major AI firms, and asked Sacks to come up with the AI action plan, per the report.
Meanwhile, AI continues to reshape industries such as enterprise financial management.
The PYMNTS Intelligence report “Smart Spending: How AI Is Transforming Financial Decision Making” found that more than 80% of chief financial officers are either already using or actively considering using AI for their accounts payable functions, despite ongoing integration hurdles.
“AI offers tangible benefits such as reducing costs, preventing payment errors, and optimizing working capital,” PYMNTS reported Thursday (July 10). “It supports functions including payment scheduling, predictive cashflow analytics, procurement cost control, and risk management.”
“However, integrating AI into existing financial systems poses challenges,” the report added. “CFOs frequently report compatibility issues, high implementation costs, and a lack of customization. Complex business operations and varied regional regulations also hinder seamless AI integration for spending optimization.”
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