New York to Require AI Firms Over $500M Revenue to Register and Report Safety Issues
Governor Kathy Hochul announced that large AI companies must register with a state portal and report critical safety incidents within 72 hours starting in November.
Governor Kathy Hochul and Attorney General Tish James unveiled new AI oversight measures at a New York City press conference. Beginning in November, AI firms with revenues over $500 million must register with the Department of Financial Services and disclose any critical safety incidents within three days. Hochul indicated the administration is open to additional safeguards, including the possibility of AI kill switches.
The regulations follow heightened public anxiety sparked by a former Anthropic researcher’s warning and contrast with President Donald Trump’s dismissal of such fears. Earlier, Hochul signed the RAISE Act and imposed a moratorium on high-energy AI data centers. The new rules aim to increase transparency and accountability for powerful AI technologies operating in the state.
Why it matters
The rules impose the first statewide AI safety reporting requirements, affecting major tech firms and setting a precedent for regulation.
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