On October 30, 2023, President Joe Biden issued an Executive Order aimed at fostering the development and deployment of Artificial Intelligence (AI) in a way that ensures it is safe, secure, and trustworthy, while also addressing potential risks such as fraud, discrimination, and misinformation. This Order calls for a collaborative effort involving various federal departments, the private sector, academia, and civil society, with a focus on three guiding principles: safety and security, responsible innovation, and supporting American workers. It outlines directives for AI safety and security, privacy protection, advancing equity, consumer protection, promoting innovation, supporting workers, advancing American leadership abroad, and ensuring effective government use of AI. The Order reflects years of developing insights and legislative efforts in the U.S. to balance AI innovation with risk management, and it is part of an evolving regulatory landscape that contrasts with the European Union's approach as seen in their AI Act. This marks a significant step in the journey towards establishing a comprehensive AI governance framework in the U.S., aiming to harness AI's benefits while mitigating its potential dangers.