In a significant move for his upcoming administration, President-elect Donald Trump has appointed David Sacks, the former Chief Operating Officer of PayPal, as the White House 'czar' for artificial intelligence (AI) and cryptocurrency. This decision was announced on Thursday evening, marking a focus on technology and innovation as pivotal elements of Trump's second administration.
David Sacks is expected to play a crucial role in shaping policy that aims to solidify America’s status as a global leader in these rapidly advancing fields. Trump stated, "In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness."
Sacks, well-known in the tech industry for his previous role as CEO of Yammer, has an extensive background in technology and investment. His involvement in various successful ventures is notable, having made angel investments in high-profile companies such as Facebook, Uber, SpaceX, Airbnb, and Palantir through his venture firm, Craft Ventures. His enterprise software company, Yammer, was also acquired by Microsoft for over $1 billion in 2012, highlighting his influential position within the tech landscape.
In addition to his focus on technology policies, Sacks will also prioritise issues regarding free speech, aiming to address perceived biases within major technology firms. Trump asserted that Sacks "will safeguard Free Speech online, and steer us away from Big Tech bias and censorship."
Furthermore, Sacks will develop a legal framework to provide clarity for the cryptocurrency industry, which has been calling for regulatory guidance to support its growth and innovation within the United States. Trump remarked that Sacks would work towards creating an environment where the crypto industry can thrive.
In addition to these responsibilities, Sacks is expected to lead the Presidential Council of Advisors for Science and Technology, a role that underscores the importance placed on scientific and technological advancements in shaping American policy direction.
With these appointments, the incoming administration appears poised to prioritise technological leadership and regulatory clarity, positioning AI and cryptocurrency at the forefront of its agenda as it navigates the complexities of modern advancements and economic competition on a global scale.
Source: Noah Wire Services