PYMNTS.com August 30, 2024
California’s newly passed artificial intelligence (AI) safety bill could dramatically alter the landscape of AI development and deployment, with far-reaching implications for tech giants, eCommerce platforms and startups alike as the industry grapples with stringent new regulations aimed at mitigating AI risks.
The legislation, known as Senate Bill 1047, now awaits a final procedural vote before reaching Gov. Gavin Newsom’s desk. If Newsom signs the bill, it could shape the future of AI development in the state. The bill introduces stringent safety testing requirements for AI companies developing models with a price tag exceeding $100 million or those utilizing substantial computing power. Additionally, it mandates that AI developers in California establish fail-safe mechanisms to shut down their models in case...
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