On Wednesday, Chinese President Xi Jinping announced that the BRICS group of emerging economies, which is led by Brazil, Russia, India, China, and South Africa, will create an artificial intelligence (AI) study group and increase cooperation in managing of that technology.
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"Artificial intelligence is the new frontier of development... This technology can bring huge development dividends but also presents risks and challenges," the Chinese leader told the 15th BRICS Summit of Heads of State and Government
"Our five countries have agreed to launch an AI study group. We need to allow the study group to fully play its role in promoting AI cooperation and intensifying information sharing and technology cooperation," he added.
Xi also stressed the need to consensually develop AI governance frameworks and standards so as to make AI technologies more secure, reliable, controllable, and equitable.
Xi made these announcements after U.S. President Joe Biden signed an executive order on August 9 imposing limits on U.S. investments in certain Chinese technology companies.
The Chinese Foreign Affairs Ministry called the U.S. measures "examples of economic coercion and technological bullying," urged the Biden administration to withdraw them immediately, and warned that China would firmly protect its rights and interests.
Currently, the BRICS bloc represents 42 percent of the world's population, 23 percent of the global gross domestic product, and 18 percent of international trade.