Industry statements and compliance reports

Bipartisan Senators, Led by Schumer, Propose $32 Billion AI Spending Plan to Maintain Competitive Edge

May 15, 2024, 09:34 AM

A bipartisan group of U.S. senators, including Senate Majority Leader Chuck Schumer, has unveiled a comprehensive AI policy roadmap. The roadmap calls for $32 billion in emergency government spending over the next three years to guide the safe development of artificial intelligence and maintain America's competitive edge against global rivals like China. The proposal includes funding for AI development and suggests that individual sectors develop their own rules for AI, effectively promoting self-regulation. The initiative aims to ensure AI advancements benefit society while mitigating potential risks. The roadmap follows a year-long review and includes contributions from Senators Martin Heinrich, Mike Rounds, and Todd Young. Additionally, states like Utah and Colorado are also enacting AI-focused legislation to address consumer protection and discrimination issues. The roadmap emphasizes the importance of setting the right guardrails to manage the rapid evolution of AI technology.