STOCKS | Canada’s Carney Calls for Global AI Stability Board to Boost Safety

Canadian Prime Minister Mark Carney said Canada wants to push for a global "technology stability" body to help oversee artificial intelligence development and ensure the technology is safe. According to Sina Finance, Carney said on Monday that coordination is needed and that, in his view, creating a technology stability board similar to the Financial Stability Board would make sense. Carney also said the Canadian government will soon announce reforms to improve the competitiveness of its tax system and speed up federal approvals for major projects so they are completed within one year. He said foreign capital is underallocated to Canada. On tensions in Canada-U.S. trade, Carney said he believes the two sides still have a chance to reach a "mutually beneficial" agreement to lower trade barriers. He said Canada is ready to sit down and negotiate, and added that he welcomed U.S. President Donald Trump’s remarks over the weekend that he believes the two countries may soon reach a deal. At a summit Carney organized in Toronto, he and senior officials are preparing to pitch more than 100 global investors, including Blackstone, Temasek Holdings, and Apollo Global Management. Canada has prepared a list of investment projects, including more than 160 projects that need hundreds of billions of Canadian dollars in funding, although some are still at a very early planning stage. The investment opportunities include a proposed crude oil pipeline to Canada’s west coast, the Ksi Lisims LNG export facility in British Columbia, and a data center campus in Alberta with a total investment of C$14.5 billion ($10.4 billion). The governments of Ontario and Alberta have also each prepared pitch books.