WASHINGTON-A new White House task force will have 120 days to prepare a report on the risks and opportunities of artificial intelligence and come up with decisions on what responsibility the federal government has over the fast-moving technology, said the head of the new group.

"The president asked that a group be put together that was going to ensure exactly what he said, which is that we stay the leaders in superintelligence, and that the interests of the American people are put first," said Jay Clayton, who leads the Office of the Director of National Intelligence, and who also will chair the "Super Intelligence Force," or SI, which takes President Trump's preferred name for AI. That effectively makes Clayton Trump's new AI czar, a senior White House official said.

Formation of the group comes on the heels of a meeting Trump convened at the White House on Tuesday in which AI leaders, including OpenAI President Greg Brockman, Anthropic's Dario Amodei, and Nvidia CEO Jensen Huang and the industry agreed to a series of principles including internal controls to monitor model development, external model reviews by third parties and notifications to the board of directors about those safety efforts, voluntary pledges that Trump hailed as the right approach.

"I will never stifle the growth of technology that will be bigger than the industrial revolution," Trump said on Tuesday.

The task force will still yield to the industry as the primary vehicle for managing risks, officials said. But it will work in conjunction with the industry to identify risk and opportunities.

"I expect there will be mechanisms developed in dialogue, just like there are in other industries," Clayton told The Wall Street Journal. He cited risk models for the financial industry that have been developed in conjunction with the Federal Reserve and Securities and Exchange Commission. He said the task force would examine current law and discuss possible actions that Congress could take.

The task force's charter document states it will "develop plans for responding to SI-enabled threats to our society, while preventing overregulation and regulatory capture that would stifle innovation and competition." It will also review current warnings and systemized notifications to the government of breaches, hacks, jailbreaks and other issues, and "recommend ways to improve the government's response capacity under existing authorities."