The Morning Risk Report: Trump Defends Light-Touch AI Strategy After Industry Sounds Alarms

Good morning. President Trump promised not to hamper the artificial-intelligence industry with regulations, doubling down Tuesday on his light-touch approach despite growing calls from Silicon Valley and the public for new guardrails.

“I will never stifle the growth of technology that will be bigger than the industrial revolution,” he said at an event to unveil a new America.gov website built with AI to make it easier for citizens to access federal government services. The Justice Department, Federal Bureau of Investigation and existing authorities are sufficient to hold accountable bad actors using AI for nefarious purposes, he said.

Manchester City, one of the richest, most successful sports teams of the modern era, was found guilty on Tuesday of more than 100 violations of the Premier League’s rules on spending.

The allegations: The club, whose eye-popping expenditures on talent and infrastructure built it into a giant of European soccer, “arranged ‘sham’ commercial deals” from 2009 and continuing into the 2017-18 season, the Premier League said following an independent investigation. The purpose, it added, was to “artificially inflate the club’s revenues, and reduce its costs, by more than £900 million ($1.2 billion) during the affected period to appear to comply with financial rules.