Bill > S3050

This bill, the Artificial Intelligence Advancement Act of 2023, has several key provisions: 1. It requires federal financial regulators like the Federal Reserve and FDIC to report on their knowledge gaps regarding artificial intelligence (AI) used in the financial services industry, including current governance standards, potential regulatory authorities needed, and resources required to oversee AI adoption. 2. It directs the Department of Defense (DoD) to develop a "bug bounty" program to incentivize researchers to identify vulnerabilities in foundational AI models being integrated into DoD missions and operations. 3. It mandates a study by the DoD's Chief Digital and Artificial Intelligence Officer to analyze vulnerabilities related to the privacy, security, and accuracy of AI-enabled military applications, as well as research and development needs. 4. It requires the Secretary of Defense to report on ways to improve data sharing, interoperability, and quality across the DoD to support the effective development and employment of AI-enabled military applications. The bill aims to bolster oversight and understanding of AI's use in the financial sector and the military, while also proactively addressing potential vulnerabilities as the government increasingly relies on AI systems.

Military Affairs and Security

https://www.congress.gov/bill/118th-congress/senate-bill/3050/all-info