Photo by Karolina Grabowska on Pexels

A new bill proposed by Senator Ted Cruz, dubbed the SANDBOX Act, aims to establish a regulatory environment where artificial intelligence (AI) companies can innovate with less federal intervention. The proposed legislation would allow qualifying AI firms to apply for exemptions or modifications to existing regulations deemed ‘obstructive’ to their development and deployment processes. In exchange for this regulatory leeway, companies would be required to provide comprehensive plans outlining measures to mitigate potential consumer safety and financial risks. These waivers could be granted for two-year periods, with the possibility of renewal up to a maximum of ten years, fostering a space for AI experimentation.