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AI Summary
The AI PLAN Act mandates a strategic framework to combat economic and national security risks from AI, including financial crimes, broader economic threats, and misinformation.
Business Impact
If you operate in finance and use AI, you must develop a risk mitigation strategy by the time regulations are enacted or face potential penalties.
What do these statuses mean? ▼
Introduced
— Filed in the legislature; not yet heard in committee
In Committee
— Assigned to and being reviewed by a legislative committee
Passed
— Approved by one or both chambers; awaiting further action
Signed / Enacted
— Signed into law by the governor; may or may not be in effect yet
Dead / Vetoed
— Vetoed, failed to pass, or session expired without action
Unknown
— Status data not yet available or awaiting classification
Affected Industries
Topics How we classify →
What This Means
The AI PLAN Act aims to establish a strategic framework to address the risks posed by artificial intelligence, focusing on safeguarding economic and national security by tackling issues like fraud, misinformation, and broader economic threats.
Key Provisions
- Mandates a strategy to address AI-related economic and national security risks.
- Focuses on AI's role in financial crimes, including fraud.
- Addresses misinformation dissemination linked to AI.
- Specifies the Department of Commerce as responsible.
- Includes an implementation timeline and oversight mechanisms.
Latest Legislative Action
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
Bill Sponsors (showing 5 of 8)
| Name | Role | District |
|---|---|---|
| Eugene Vindman D | Sponsor | HD-VA-7 |
| James Himes D | Sponsor | HD-CT-4 |
| Josh Gottheimer D | Sponsor | HD-NJ-5 |
| Kristen McDonald Rivet D | Sponsor | HD-MI-8 |
| Laura Gillen D | Sponsor | HD-NY-4 |
Compliance Checklist
Develop a risk mitigation strategy for AI use
Who: Financial institutions and related entities
Deadline: To be determined upon enactment
Penalty: Potential penalties to be defined in future regulations
Who: Financial institutions and related entities
Deadline: To be determined upon enactment
Penalty: Potential penalties to be defined in future regulations
Monitor compliance requirements as they are established
Who: All businesses utilizing AI in finance
Deadline: Ongoing
Penalty: To be determined
Who: All businesses utilizing AI in finance
Deadline: Ongoing
Penalty: To be determined
Full Legal Analysis
The AI PLAN Act requires the development of a strategic framework to defend against the economic and national security risks associated with artificial intelligence, encompassing financial crimes, broader economic threats, and misinformation dissemination. The bill specifies the Department of Commerce as responsible for this task and includes an implementation timeline of two years. It also establishes oversight mechanisms requiring regular reporting to Congress.
Official Source
Official Bill Text
View HB2152 on official legislature website →
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