Which States already regulate AI systems?

Colorado’s SB 205 requires developers and deployers of high-risk AI systems to safeguard consumers from algorithmic discrimination. Utah’s SB 149 mandates that AI use be disclosed to consumers. California’s newly signed AB 2013 requires developers of generative AI systems to disclose the data used for training. Another Californian law (SB 942) requires certain developers to make available an AI detection tool to users.

What are the active bills under debate in other states?

Illinois, Ohio and Massachusetts are actively debating AI bills. Illinois' HB 5321 mandates clear labeling of AI-generated content. Ohio and Massachusetts are debating similar bills focused on AI transparency and disclosure. Not all bills succeed: California’s comprehensive bill SB 1047, which would have imposed new safety requirements on large-scale AI models, was recently vetoed. Other states have introduced AI-related bills, and legislative activity may resume in those states in future sessions.

Are there federal AI regulations that bind private organisations?

No comprehensive federal regulations bind private organisations yet. However, President Biden’s Executive Order on AI mandates federal agencies to implement AI policies focused on privacy, civil liberties, and secure AI management, while also boosting U.S. competitiveness in AI by fostering talent, research and innovation.

What federal guidelines exist for managing AI risks?

The NIST AI Risk Management Framework provides voluntary guidelines to help organizations manage AI risks. The NIST Generative AI Profile offers specific guidance on addressing risks related to generative AI, including bias, privacy and security vulnerabilities.

How will the SEC regulate AI in finance?

The SEC has proposed rules to prevent broker-dealers and investment advisers from using AI to prioritize their own interests over those of investors. Firms must assess and mitigate AI-driven conflicts of interest, which is particularly important for private equity sponsors and asset managers.