On August 9, 2022, President Biden signed the CHIPS Act of 2022 (the Act), legislation to fund domestic semiconductor manufacturing and boost federal scientific research and development (see our previous alert for additional background). As part of its science-backed provisions, the Act includes many of the U.S. Innovation and Competition Acts (USICA) original priorities, such as promoting standards and research and development in the field of artificial intelligence (AI) and supporting existing AI initiatives.
The Act directs the National Institute of Standards and Technology (NIST) Director to continue supporting the development of AI and data science and to carry out the National AI Initiative Act of 2020 (previous alert for additional background), which created a coordinated program across the federal government to accelerate AI research and application to support economic prosperity, national security, and advance AI leadership in the United States. The Director will further the goals of the National AI Initiative Act of 2020 by:
Furthermore, the Act provides that the Director may establish testbeds, including in virtual environments, in collaboration with other federal agencies, the private sector and colleges and universities, to support the development of robust and trustworthy AI and machine learning systems.
A new National Science Foundation (NSF) Directorate for Technology, Innovation and Partnerships (the Directorate) is established under the Act to address societal, national and geostrategic challenges for the betterment of all Americans through research and development, technology development and related solutions. Over the next five years, the new Directorate will receive $20 billion in funding. Moreover, the Directorate will focus on 10 key technology focus areas, including AI, machine learning, autonomy, related advances, robotics, automation, advanced manufacturing and quantum computing, among other areas.
Within the Department of Energy (DOE), the Act authorizes $11.2 billion for research, development and demonstration activities and to address energy-related supply chain activities in the ten key technology focus areas prioritized by the new NSF Directorate. Further, the Act authorizes $200 million for the DOEs Office of Environmental Management to conduct research, development and demonstration activities, including the fields of AI and information technology.
The Act directs NSF Director to submit to the relevant House and Senate congressional committees a report outlining the need, feasibility and plans for implementing a program for recruiting and training the next generation of AI professionals. The report will evaluate the feasibility of establishing a federal AI scholarship-for-service program to recruit and train the next generation of AI professionals.
The Akin Gump cross-practice AI team continues to actively monitor forthcoming congressional and administrative initiatives related to AI.
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Chips-Plus Artificial Intelligence in the CHIPS Act of 2022 - JD Supra
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- Being and becoming a good doctor in the age of artificial intelligence - Firstpost - April 29th, 2024 [April 29th, 2024]
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- Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy? - The Motley Fool - April 29th, 2024 [April 29th, 2024]
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- Tesla Stock Investors Cheer Progress on Its Artificial Intelligence (AI) Future - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
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- The iPad Pro can give us a big surprise with its artificial intelligence chips. - Softonic EN - April 29th, 2024 [April 29th, 2024]
- This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy? - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
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- Cohere Targets $5 Billion Valuation for ChatGPT Rival - PYMNTS.com - March 22nd, 2024 [March 22nd, 2024]
- IMF: Artificial Intelligence (AI) Will Transform 40% of Jobs. Can Investors Capitalize? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- Cathie Wood Is Selling These 2 Artificial Intelligence (AI) Stocks. Should You? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
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- Inaugural Plenary Meeting of States Endorsing the Political Declaration on Responsible Military Use of Artificial ... - Department of State - March 22nd, 2024 [March 22nd, 2024]
- AMD Fell Today -- Is This a Chance to Buy the Artificial Intelligence (AI) Stock? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
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- Artificial intelligence will radically improve health care, but only if managed carefully - The Hill - March 22nd, 2024 [March 22nd, 2024]
- Tennessee Makes A.I. an Outlaw to Protect Its Country Music and More - The New York Times - March 22nd, 2024 [March 22nd, 2024]
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- Why Super Micro Computer, Advanced Micro Devices, and Other Artificial Intelligence (AI) Stocks Tumbled on Tuesday - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- 3 Billionaires Are Selling Artificial Intelligence (AI) Stock Nvidia and Buying These 10 AI Stocks Instead - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Nvidia Just Bought 5 Artificial Intelligence (AI) Stocks. These 2 Stand Out the Most. - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- UN adopts first global artificial intelligence resolution - ARMENPRESS - March 22nd, 2024 [March 22nd, 2024]
- This New Artificial Intelligence (AI) Chip Is a Massive Game Changer for Nvidia Stock - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
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- UN adopts first global artificial intelligence resolution - CGTN - March 22nd, 2024 [March 22nd, 2024]
- 1 No-Brainer Artificial Intelligence (AI) Stock to Buy With $25 and Hold for 10 Years - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
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- SAP names Philipp Herzig as chief artificial intelligence officer - CIO - February 20th, 2024 [February 20th, 2024]
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- Koch Industries continues to accelerate its artificial intelligence initiative - The Business Journals - February 20th, 2024 [February 20th, 2024]
- Forget Nvidia: These 3 Artificial Intelligence (AI) Stocks Can Be the Next Stock-Split Stocks - The Motley Fool - February 20th, 2024 [February 20th, 2024]
- Artificial Intelligence for small business focus of upcoming JWCC Lunch and Learn on Feb. 28 Muddy River News - Muddy River News - February 20th, 2024 [February 20th, 2024]
- Opponents Highlight the Environmental Impact of Artificial Intelligence - News-Press Now - February 20th, 2024 [February 20th, 2024]
- Generative AI's environmental costs are soaring and mostly secret - Nature.com - February 20th, 2024 [February 20th, 2024]
- Chapter Summary: Genesis of Artificial Intelligence and a Scientific Revolution: 1950-1979 - EIN News - February 20th, 2024 [February 20th, 2024]
- What would Thomas Aquinas make of Artificial Intelligence? - ACI Africa - February 20th, 2024 [February 20th, 2024]
- ChatGPT Predicted Bitcoin Price Will "Skyrocket" - Cryptonews - February 20th, 2024 [February 20th, 2024]
- Worried About an Artificial Intelligence (AI) Stock Bubble? Consider This Billionaire Investor's Advice. - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- This Super Artificial Intelligence (AI) Stock Could Be at the Beginning of a Terrific Bull Run - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
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- Will AI replace Colorado teachers? Here's what experts say. - The Colorado Sun - February 20th, 2024 [February 20th, 2024]
- Nvidia Could Be About to Counter a Big Artificial Intelligence (AI) Threat With This Move - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- The Healthiest U.S. Pharma Companies: Ranked by RealRate's Impressive Artificial Intelligence - Medium - February 20th, 2024 [February 20th, 2024]
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- 'AI for Humans' may be the most entertaining way to learn about artificial intelligence - Fast Company - February 20th, 2024 [February 20th, 2024]