New York governor Kathy Hochul signed legislation on Friday aimed at holding large AI developers accountable for the safety of their models. The RAISE Act establishes rules for greater transparency, requiring these companies to publish information about their safety protocols and report any incidents within 72 hours of their occurrence. It comes a few months after California adopted similar legislation.
But, the penalties aren’t going to be nearly as steep as they were initially presented when the bill passed back in June. While that version included fines of up to $10 million dollars for a company’s first violation and up to $30 million for subsequent violations, according to Politico, Hochul’s
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