Across the country, artificial intelligence is powering machines and computers to help us solve problems and work more efficiently. It's assisting scientists to develop vaccines and treat patients more effectively, securing our nation's networks and critical infrastructure against cyberattacks, alerting customers of bank fraud and expanding financial opportunities for underserved communities through access to credit, and much more. AI is rapidly changing how businesses operate--and is foundational to a thriving 21st-century economy. By 2030, 70% of businesses globally expect to use AI. Around the world, AI is estimated to boost global GDP by 14% over the same period, accounting for nearly $16 trillion of economic output.

Artificial intelligence is increasingly prominent in our everyday lives from smart home devices to navigation and music streaming. What does this mean for individuals and businesses in your area of the country? The U.S. Chamber of Commerce is teaming up with thought leaders and academics and, most importantly, members of the public, to find the best way to responsibly move AI forward. The U.S. Chamber believes this emerging technology can be a tremendous force for good and we must leverage AI to compete globally. To do so we need reasonable and responsible rules to harness its potential while minimizing risks.

Large, black drones with the orange logo of EDGE, the UAE's arms consortium, were on display at this week's Unmanned Systems Exhibition (UMEX), along with remote-controlled machineguns and other "smart" weapons. The exhibition comes at a time of growing unmanned attacks around the region, including the January 17 drone-and-missile assault by Yemen rebels that killed three oil workers in Abu Dhabi, the first in a series of similar incidents. "Autonomous systems are becoming ever more prevalent around the world," Miles Chambers, EDGE's director of international business development, told AFP. "We are really heavily investing in developing our autonomous capability... as well as in electronic warfare and in our smart munitions. These are our three pillars." EDGE, an Abu Dhabi-based defence consortium that groups 25 Emirati firms, was formed three years ago but reached an estimated $4.8 billion in arms sales in 2020 -- nearly all of them to the UAE government.

JC2 Ventures CEO and founder and Cisco chairman emeritus John Chambers discusses the ongoing journey to 5G in the U.S. and how artificial intelligence can help or hurt the job market. With artificial intelligence quickly creeping into people's everyday lifestyle, some people are wondering if it's a technology to be feared or lauded. Former executive chairman and CEO of Cisco Systems, and now JC2 Ventures CEO and founder, John Chambers spoke to FOX Business' Liz Claman on Thursday about where he lands on that debate. "I think it's a combination of perhaps three areas," Chambers said on "The Claman Countdown." "If you're going to bet on one technology ... I'd bet on artificial intelligence."

The blossoming of fintech shows financial regulators need to update their tools, Rep. Patrick McHenry, possibly the next chair of the House Financial Services Committee, said today. Regulators need to start using Artificial Intelligence (AI) to adapt rules quickly to a rapidly changing financial system, a Republican Congressman who is often mentioned as the next possible head of the House Financial Services Committee said today. To meet the fintech challenge, Rep. Patrick McHenry (R-NC) also called for regulators to begin employing Big Data to develop strategies. "The basic way consumers are interacting with the banking system is fundamentally changing," said the Congressman. McHenry revealed he will be introducing a bill soon to bring financial regulation into the fintech era.