Lawmakers in New York have passed a bill aimed at limiting the risks associated with artificial intelligence. This legislation marks a significant step in efforts to ensure the safety of AI technologies.
Key Provisions of the RAISE Act
The bill, known as the RAISE Act, seeks to prevent AI models developed by major companies like OpenAI and Google from contributing to disaster scenarios. These scenarios include the death or injury of more than 100 people or damages exceeding $1 billion. If signed into law, it would establish the first set of legally mandated transparency standards for leading AI labs in the USA.
Impact on AI Companies
The RAISE Act targets the regulation of the largest AI firms globally, requiring them to publish safety reports and incident records related to their AI models. Companies that utilize over $100 million in computational resources for training their AI models would be affected. Failure to comply could result in civil penalties of up to $30 million imposed by New York's attorney general.
Reactions to the Bill
The legislation has drawn mixed reactions. Co-sponsor Senator Andrew Gounardes emphasized that the bill is designed to not stifle innovation among startups and researchers. However, opponents of the bill have expressed concerns. Andreessen Horowitz general partner Anjney Midha labelled the bill as 'stupid' and detrimental to the US amidst global competition.
The RAISE Act is an attempt by New York to establish necessary frameworks for the safe use of AI technologies, yet its passage has sparked controversy among experts and major companies in the field.
