The Sam Altman-led OpenAI has put forth a proposal to the Trump administration, urging for a rapid acceleration in AI development and a reduction in regulation.

What Happened: OpenAI is making a bid for a significant role in the development and regulation of AI technology ahead of the submission of the "AI Action Plan" to President Donald Trump in July. The company presented a proposal that underscores the urgency of swift AI development and a lenient regulatory approach, while also spotlighting potential threats from AI technology originating from China, reported by CNBC on Thursday.

The proposal from OpenAI advocates for "the freedom to innovate in the national interest" and a "voluntary partnership between the federal government and the private sector" as opposed to "overly burdensome state laws." The AI company also proposed an "export control strategy" for AI developed in the U.S. and the encouragement of worldwide adoption of American AI systems.

OpenAI also urged the government to partner with the private sector in advancing AI for national security purposes. The company recently introduced ChatGPT Gov, a product tailored specifically for use by the U.S. government.

The ChatGPT maker also advocated for "a copyright approach that supports the freedom to learn" and for "protecting the ability of American AI models to learn from copyrighted content."

Why It Matters: This proposal from OpenAI comes at a time when concerns about China's potential dominance in the AI sector are growing. Earlier in March, former Google (GOOG  ) (GOOGL  ) CEO Eric Schmidt warned the Trump administration of nuclear-level risks in the global Superintelligent AI race. He also cautioned about the West's need to prioritize a combination of open and closed-source AI models to prevent China from taking the lead.

Similarly, in February, Microsoft Corporation (MSFT  ) wrote to the Trump administration to alter the Biden-era "AI Diffusion Rule," which might inadvertently strengthen China's rapidly expanding AI sector, as the rule deterred U.S. companies from building data centers in many ally nations of the U.S. classifying them as Tier Two.