New York Enacts RAISE Act, Establishing State-Level AI Safety and Transparency Framework

New York Governor Kathy Hochul has signed the RAISE Act, making New York the second U.S. state, after California, to pass comprehensive AI safety legislation. Approved by state lawmakers in June, the law requires large AI developers to publicly disclose safety practices and report significant AI-related safety incidents to the state within 72 hours. The legislation also creates a dedicated AI oversight office within the New York Department of Financial Services to monitor advanced AI development.

Under the new framework, companies that fail to comply with reporting requirements or submit misleading information may face fines of up to $1 million, rising to $3 million for repeat violations. State Senator Andrew Gounardes, a bill sponsor, characterized the law as a decisive response to industry pressure. The measure aligns New York with California’s recent AI safety action, reinforcing state-led regulation as federal policy remains unsettled.

Need Deeper Intelligence on the AI Market?

AI Insider's Market Intelligence platform tracks funding rounds, competitive landscapes, and technology trends across the global AI ecosystem in real time. Get the data and insights your organization needs to make informed decisions.

Related Articles

Helion Explores Power Supply Agreement with OpenAI to Support AI Infrastructure Demand

Fusion energy startup Helion is reportedly in early discussions to supply power to OpenAI, signaling a potential alignment between next-generation energy production and large-scale artificial

Cloaked Secures $375M to Fight for Privacy in the Age of AI

Insider Brief PRESS RELEASE — Cloaked, the consumer-first privacy and security company, announced it has secured $375 million in funding as part of a Series

Cursor Clarifies AI Model Origins Following Composer 2 Launch

AI coding platform Cursor has introduced Composer 2, a new model positioned as delivering advanced coding intelligence, while acknowledging it was partially built on an

Stay Updated with AI Insider

Get the latest AI funding news, market intelligence, and industry insights delivered to your inbox weekly.

Subscribe today for the latest news about the AI landscape