South Korean Prime Minister Han Duck-soo led the Global AI Summit in Seoul on May 22, 2024.

Major tech companies like Google, Microsoft, Samsung, OpenAI, Google DeepMind, and Anthropic pledged to invest in AI research and development.

These companies committed to new safety guidelines focusing on transparency and accountability.

The guidelines include sharing risk assessment frameworks and defining thresholds for intolerable risks.

A groundbreaking agreement was made to deactivate AI technologies if high-risk thresholds are met.

The focus is on safety outcomes, risk thresholds, and transparency measures.

The UK Prime Minister praised the commitment as unprecedented.

The summit aimed to build on previous agreements for human-centric AI development.

President Joe Biden stressed the importance of trust and responsibility in AI development.

Global collaboration and safety measures are deemed crucial for the responsible advancement of AI technologies.

Financial services firms are expected to benefit from the set regulations.

Ongoing concerns about AI safety are highlighted by recent resignations at OpenAI.