Business SummaryBrief at 2:53 p.m. EDT

President Donald Trump minimized the need for his administration to check artificial intelligence development, saying he wants the U.S. to keep its competitive advantage over China. During his Sunday trip to Ireland, he told reporters that he is concerned about ceding America’s edge in a global race and that winning in AI would help address the risks associated with advancing technology. Trump said there is a need for some regulation, but he offered no specifics about what rules might be. He reiterated that the U.S. is leading China in AI development and said, “frankly, I want to keep it that way because whoever wins AI wins.”