New York Governor Kathy Hochul signs RAISE Act to regulate AI safety
Governor Kathy Hochul has signed the RAISE Act, positioning New York as the second U.S. state to enact major AI safety legislation. State lawmakers passed RAISE Act in June, but following lobbying from the tech industry, Hochul proposed changes to scale the bill back. The New York Times reports that Hochul ultimately agreed to sign the original bill, while lawmakers agreed to make her requested changes next year. The bill will require large AI developers to publish information about their safety protocols and report safety incidents to the state within 72 hours. It will also create a new office within the Department of Financial Services to monitor AI development. If companies fail to submit safety reports or make false statements, they can be fined up to $1 million ($3…
