Private sector is 'the right place' to solve AI threats, White House's Hassett says

Private sector the right place to solve AI threats: Hassett Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Key Points The private sector can address the risks posed by rapidly advancing artificial intelligence, National Economic Council Director Kevin Hassett told CNBC. President Donald Trump decried AI industry leaders and others who have raised alarms about their own nascent technology. "These are solvable problems, and the private sector is the right place to solve them," Hassett said on CNBC's "Squawk Box." watch now VIDEO 6:27 06:27 Kevin Hassett: Pres. Trump 'wholeheartedly rejects' government takeover of AI regulation Squawk Box The private sector is more than capable of addressing the risks posed by rapidly advancing artificial intelligence , National Economic Council Director Kevin Hassett told CNBC on Tuesday. "I think these are completely solvable problems," Hassett said on " Squawk Box ." The comments came one day after President Donald Trump went on a social media rampage against AI industry leaders and others who have raised alarms about their own nascent technology. Those fears are a "hoax," insisted Trump, whose AI-friendly administration argues U.S. dominance over China in the fast-expanding industry is essential. Hassett told CNBC that the government already plays a role that should not be enlarged, a role an increasing number of industry officials and Congress members are calling for. "These are solvable problems, and the private sector is the right place to solve them," he said. "And it doesn't mean the government is asleep at the wheel. Not at all. It's watching closely, using law enforcement when necessary to make sure that the firms are acting responsibly." Read more CNBC politics and policy coverage Analysis: Hot inflation data sets up a Fed rate hike. What happens if Warsh wavers Hassett kept up to $5 million Coinbase stake as Trump reshaped crypto policy Trump's energy holdings have surged as the Iran war moved oil markets This is breaking news. Please check back for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.