Official government announcements or major news outlets

US Senators Unveil $32 Billion AI Regulation Roadmap, Spending to Reach $32 Billion Annually by 2026

May 15, 2024, 01:29 PM

A bipartisan group of U.S. senators, led by Senate Majority Leader Chuck Schumer, has unveiled a comprehensive roadmap for regulating artificial intelligence (AI). The plan, which follows a yearlong review, calls for $32 billion in emergency spending over the next three years to boost AI research, development, and testing standards. The roadmap aims to maintain U.S. leadership in AI technology while addressing potential harms and establishing necessary guardrails. The proposal includes the creation of a federal data privacy law and sets the framework for future AI regulation in the U.S., with spending expected to reach $32 billion annually by 2026.