๐ New York Passes AI Safety Law
New York has become the second U.S. state after California to adopt strict rules for AI developers.
Governor Kathy Hochul has signed the RAISE Act, which takes algorithmic transparency to a new level.
Under the law, major AI developers will be required to disclose their safety protocols.
Companies must notify authorities of any AI-related incidents or system failures within three days.
Penalties for concealing data or providing false information can reach up to $1 million, and up to $3 million for repeat violations.
A dedicated unit to monitor AI systems will be established within the Department of Financial Services.
Notably, market leaders OpenAI and Anthropic have voiced support for the initiative. They hope New Yorkโs example will push Congress to adopt a unified federal law, avoiding a patchwork of state-by-state regulation.
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