On 2 November 2023, the Federal Artificial Intelligence Risk Management Act (SB 3205) was introduced into the US Senate to address the risks associated with the use of Artificial Intelligence (AI) in federal government activities. The Act aims to require federal agencies to incorporate the AI Risk Management Framework developed by the National Institute of Standards and Technology (NIST) into their AI management efforts. The Bill focuses on the importance of establishing guidelines for responsible AI use within the federal government to mitigate risks related to data privacy, transparency, and the use of unverified data. It also emphasizes the need for a diverse AI workforce within federal agencies to effectively manage AI systems. The proposed legislation directs federal agencies to follow NIST guidelines and encourages the procurement of AI systems that incorporate the AI Risk Management Framework.
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