New York Governor Kathy Hochul signed legislation Friday aims to hold top AI developers accountable for the safety of their models. The RAISE Act sets rules for greater transparency, requiring these companies to publish information about their safety protocols and to report any accidents within 72 hours of their occurrence. It comes after a few months ca Similar legislation was adopted.
But the penalties will not be as steep as they were initially presented when the bill was passed in June. While that version included fines of up to $10 million for the company’s first violation and up to $30 million for subsequent violations, according to what the British newspaper “Daily Mail” reported. POLITICOHochul’s version sets fines at up to $1 million for a first violation, and $3 million for any violations after that. In addition to the new reporting rules, a new oversight office dedicated to AI safety and transparency will be created as a result of the RAISE Act. This office will be part of the Department of Financial Services, and will issue annual reports on its assessment of top AI developers.
Hochul signed two other AI pieces of legislation earlier in December that focus on the use of the technology in the entertainment industry. At the same time, President Trump has been pushing to rein in states’ attempts to regulate AI, signing an executive order this month calling for a “less burdensome national standard” instead.