🤖 It Just Got Real For AI As...

Good morning. US stock futures dipped in Wednesday morning trading as investors begin to review projections for the new year.

🤖 US Govt tackles AI safety

📝 Our report: The Biden Administration just pulled out the pen and paper to draft the ultimate guide for safely unleashing generative artificial intelligence! Commerce Secretary Gina Raimondo said the effort was prompted by President Joe Biden's October executive order on AI and aimed at developing "industry standards around AI safety, security, and trust that will enable America to continue leading the world in the responsible development and use of this rapidly evolving technology."  

 🔑 Key points:

• The Commerce Department's National Institute of Standards and Technology (NIST) said it was seeking public input by Feb. 2 for conducting key testing crucial to ensuring the safety of AI systems.

• Generative AI - which can create text, photos and videos in response to open-ended prompts - in recent months has spurred excitement as well as fears it could make some jobs obsolete, upend elections and potentially overpower humans and catastrophic effects.

• The agency is developing guidelines for evaluating AI, facilitating development of standards and provide testing environments for evaluating AI systems. The request seeks input from AI companies and the public on generative AI risk management and reducing risks of AI-generated misinformation.

💡 So what: AI safety standards are of paramount importance as they provide a comprehensive framework for the ethical development and deployment of artificial intelligence. These standards ensure transparency in AI systems, clarifying decision-making processes and fostering accountability. By promoting consistency across industries, standards help mitigate potential risks associated with AI, reducing the likelihood of unintended consequences.

Wednesday - No Major Economic News

Thursday - Initial Jobless Claims (wk end Dec 15), US Leading Economic Indicators, US GDP (revision)

Friday - Consumer Sentiment

 📈 Trading legend Paul Tudor Jones shares his 10 tips for trading success!

💸 Thinking about starting a business in the new year? Avoid these mistakes!

🪜 Didn’t get that promotion? Here’s what you should do!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🧾 IRS waives back-taxes penalties

WHAT: Good news, folks! The IRS is feeling generous and giving a little tax love by waiving penalty fees for those who owe less than $100,000 in back taxes for 2020 and 2021. Nearly 5 million people, businesses and tax-exempt organizations — most making under $400,000 per year — will be eligible for the relief which totals about $1 billion, the agency said.

WHY: The IRS temporarily suspended mailing automated reminders to pay overdue tax bills during the pandemic, beginning in February 2022, and agency leadership says the pause in automated reminders is a reason behind the decision to forgive the failure-to-pay penalties.

📱 Alphabet settles over Google Play fiasco

WHAT: Alphabet's forking over $700 million and doing a little Google Play policy makeover to settle the score on claims that its app store was the unruly ruler of the Android app world! The settlement comes as the company tries to resolve antitrust complaints brought by attorneys general of about three dozen states and consumers.

WHY: The deal, disclosed in a court filing, calls for changes to Play Store policies to reduce barriers to competition in the markets for app distribution and payment processing. The lawsuits, grouped together in federal court in California, threatened billions of dollars in revenue generated by the sale and distribution of apps through Google Play.

🚙 Tesla blanks employees stock awards

WHAT: Tesla has apparently decided to skip the yearly merit-based stock awards for its employees, turning the excitement dial down a notch. According to a report from Bloomberg News, the company's managers delivered the news to salaried employees, adding that workers were still given modest cost-of-living increases and adjustments to their base salaries.

WHY: The news comes after United Auto Workers union said in November it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S., including Tesla, after winning new contracts with the Detroit Three automakers.

✏️ DMB Insider Quiz ✏️

🧑‍💻 We read your emails and poll replies daily.

Hit reply and let us know what you want more of!

See ya next time, Daily Market Briefs