US, China launch 'AI dialogue' ahead of Trump-Xi summit amid race to control AI risks

US treasury secretary Scott Bessent announced the agreement after talks with China's He Lifeng in New York. (Reuters photo) The United States and China have agreed to establish a formal dialogue on artificial intelligence, adding a new area of cooperation between the world's two biggest AI powers ahead of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping in Washington.US treasury secretary Scott Bessent announced the agreement after talks with Chinese vice-premier He Lifeng in New York on Sunday. The two sides also moved ahead with plans for a trade mechanism first discussed when Trump met Xi in Beijing.The agreement comes as technology leaders warn that rapid advances in AI could create serious risks if research continues without adequate safeguards.US and China set up AI mechanismUS Trade Representative Jamieson Greer said Washington and Beijing had formalised a "board of trade" that had been discussed during Trump's May meeting with Xi in Beijing."We just had a very successful engagement with the Chinese on trade and AI, completing where we left off in Beijing," Bessent said at JPMorgan's headquarters in New York, where the two delegations held t...