The Morning Risk Report: New AI Czar Unveils Goals, Members of White House Task Force

Good morning. A new White House task force will have 120 days to report on the risks and opportunities of artificial intelligence—and determine the federal government’s responsibility—according to Jay Clayton, the director of national intelligence who effectively becomes the administration’s AI czar.

In case you missed it: America has spent much of the past decade trying to reduce its trade and economic dependence on China, but it is proving difficult. Also, data centers grapple with becoming military targets. Listen to new episodes every Friday on Apple Podcasts, Spotify and Amazon.

Community bankers sued the Trump administration on Friday after regulators moved to grant bank charters to a wave of cryptocurrency companies, the latest chapter in a fight between traditional banking and crypto.

What the bankers allege. The lawsuit by the Independent Community Bankers of America accuses the regulators of allowing “highly risky cryptocurrency and digital asset activities” to enter the banking system without submitting them to the same level of regulatory oversight as banks.