News Summary

Governor Kathy Hochul has signed the RAISE Act into law, making New York the second U.S. state to implement significant AI safety legislation. The Act mandates that large AI developers disclose their safety protocols and report any safety incidents within 72 hours. This move follows California’s similar legislation and establishes a unified benchmark for AI safety across leading tech states. Despite lobbying efforts to amend the bill, the original version was signed, with changes to be considered next year. The Act creates a new office within the Department of Financial Services to oversee AI development, with fines of up to $1 million for violations. The legislation has received mixed reactions from the tech industry, with some entities supporting it while others, backed by major tech figures, oppose it. The RAISE Act is seen as a critical step towards federal AI safety regulations.