Microsoft president urges for AI regulations

COLUMBIA, S.C. (CNN)—The president of Microsoft is urging federal leaders to regulate artificial intelligence.

In a speech before some members of Congress Thursday Brad Smith laid out a five-point plan for addressing risks.

It involves creating a new federal agency for AI oversight and supporting U.S. companies that compete with rivals in China.

He also is asking President Joe Biden to create new restrictions on how the federal government uses AI.

Smith’s speech echoes one last week from the head of Open AI, the company behind ChatGPT.

Leaders of IBM are taking a different tactic suggesting existing agencies regulate AI instead of a new one.