To amend the National Artificial Intelligence Initiative Act of 2020 to require the Director of the Office of Science and Technology Policy to establish a prize competition program relating to artificial intelligence, and for other purposes.

Key Points

• This bill creates a new program called Federal Grand Challenges in Artificial Intelligence. It allows the government to offer prize money to researchers and companies that solve specific, difficult problems in AI technology.
• The prizes will target important goals like making AI safer, improving border security to find illegal drugs like fentanyl, and helping American factories run more efficiently. It also aims to find ways for AI to use less energy.
• All research funded through these prizes must take place in the United States. This rule is meant to help American workers and businesses stay ahead of foreign competitors in the global tech race.
• The program is set to last for five years. During this time, government experts will check if these prize contests are a better way to spark innovation than traditional government grants or spending.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.