The U.S. Department of Commerce has established the U.S. AI Safety Institute Consortium (AISIC) to address the growing challenges and risks associated with artificial intelligence. This consortium brings together leading AI companies including OpenAI, Google, Anthropic, Microsoft, Meta Platforms, Apple, Amazon, Nvidia, Palantir, Intel, JPMorgan Chase, and Bank of America. Additional members include BP, Cisco Systems, IBM, Hewlett Packard, Northrop Grumman, Mastercard, Qualcomm, Visa, prominent academic institutions, and government agencies. The AISIC is a direct response to President Biden's executive order focusing on AI safety. It aims to develop guidelines for AI applications in areas like red-teaming, capability evaluations, risk management, safety, security, and watermarking of synthetic content. The consortium represents a significant collaboration for advancing AI safety standards and practices, acknowledging the immense potential and risks of AI technologies.