Governor Hochul signs New York’s AI safety act

New York Governor Kathy Hochul signed legislation on Friday aims to hold major artificial intelligence developers accountable for the safety of their models. The RAISE Act sets rules for greater transparency by requiring these companies to publish their safety protocols and report any incidents within 72 hours of their occurrence. This happens a few months after California passed a similar law.

But the penalties won't be as severe as they were originally presented when the bill was passed back in June. While that version included fines of up to $10 million for a company's first violation and up to $30 million for subsequent violations, according to PoliticianAccording to Khochul, fines range up to $1 million for the first violation and $3 million for subsequent violations. In addition to new reporting rules, the RAISE Act creates a new oversight body dedicated to AI safety and transparency. This office will be part of the Department of Financial Services and will issue annual reports on the assessment of major AI developers.

Khochul signed two other artificial intelligence laws earlier in December the focus was on the technology's use in the entertainment industry. At the same time, President Trump is pushing to curb states' efforts to regulate AI. signed a decree this month calls for a “minimally burdensome national standard” to be introduced instead.