Federal agreement paves way for closer scrutiny of burgeoning AI industry

Federal regulators have reached an agreement that could lead to tighter government oversight of the rapidly emerging artificial intelligence industry, including heavyweights in the sector such as Microsoft, Nvidia and OpenAI, two people familiar with the talks confirmed to CBS News. 

The Federal Trade Commission and Justice Department will split oversight of different companies in the sector, the people said, with the FTC regulating the business practices and conduct of OpenAI and Microsoft and the Justice Department's antitrust division overseeing chipmaker Nvidia. 

News of the agreement was first reported by the New York Times.