Search Results for keywords:"regulatory sandboxes"

Search Results: keywords:"regulatory sandboxes"

H. R. 9309 — To provide for regulatory sandboxes that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions.
August 06, 2024
Status:Introduced in House
Congress:118
Words:3,131
H.R. 9309, titled the "Unleashing AI Innovation in Financial Services Act," aims to allow financial entities to experiment with artificial intelligence projects without fearing enforcement actions. It establishes "regulatory sandboxes" where regulated entities can test AI-driven financial...
Simple Explanation
H.R. 9309 is like a safe playground where banks and money companies can try new ways to help people with cool computer ideas without getting in trouble, as long as they play safely and tell others how it goes.
S. 4951 — To provide for regulatory sandboxes that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions.
August 01, 2024
Status:Introduced in Senate
Congress:118
Words:3,137
S. 4951 establishes "regulatory sandboxes" for financial entities to experiment with artificial intelligence (AI) without facing enforcement actions. These sandboxes are intended to encourage innovation by allowing financial products or services to use AI under limited...
Simple Explanation
S. 4951 is a rule that lets people try out new ideas for using computers to make smart choices about money, by letting them play with these ideas in a special safe place without getting in trouble, as long as they promise not to cause big problems.

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