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Speaking at the White House alongside artificial intelligence executives, Mr. Trump said he expected to announce his pick within the next "three-to-four days."
Mr. Trump said he wanted to seek opinions from AI companies, House Speaker Mike Johnson, Louisiana Republican, and Senate Majority Leader John Thune, South Dakota Republican, before selecting a candidate.
"We will have somebody extraordinary," he told reporters.
Candidates who have been floated for the position include Sriram Krishan, the senior White House policy advisor on AI; Sean Cairncross, the administration's national cyber director, and Michael Kratsios, director of the White House Office of Science and Technology Policy.
Treasury Secretary Scott Bessent was said to be among the potential candidates, but Mr. Trump said last week that he eliminated him from consideration because he wanted him to stay at the Treasury.
Industry insiders and some lawmakers have called for limits on the technology because of concerns that machines could go rogue or fall into the wrong hands and cause widespread harm. Mr. Trump dismissed such claims, saying the guardrails need to be relaxed to keep America competitive.
Earlier Tuesday, he hosted a lunch with artificial intelligence executives. Mr. Trump now refers to the technology as "super intelligence."
Mr. Trump said earlier this month that whoever gets the position will likely lead a new "AI Force." The president said it would be similar to the Space Force, which he established during his first term, but he did not disclose whether it would be a new branch of the military or how it would work.
David Sacks, a venture capitalist, previously served as Mr. Trump's AI and crypto czar, but left the White House earlier this year once his term as a special government employee expired.