Senator Chuck Schumer, as the Majority Leader, suggests that Congress allocate a minimum of $32 billion in funding over the next three years for the advancement of artificial intelligence and implementing protective measures. In a report issued on Wednesday, he emphasizes the importance of both seizing the benefits and mitigating the potential risks associated with the rapidly evolving technology.

In an interview on Tuesday, a bipartisan group consisting of two Democrats and two Republicans emphasized the importance of reaching a consensus on technology development. Despite occasional disagreements on the best approach, they recognized the need to keep up with other countries, such as China, that are heavily investing in this area. As a result, they agreed on several policy recommendations that were detailed in a 33-page report.

The senators acknowledged that passing any laws related to AI will be challenging, especially given the current political climate of an election year and a divided Congress. However, they emphasized the importance of implementing regulations and providing incentives to promote innovation in the field of AI.

The report suggests that Congress should create a bill for "emergency" spending to increase U.S. investments in artificial intelligence. This includes funding for new research and development, as well as establishing new testing standards to assess the potential risks of the technology. The group also proposes implementing transparency requirements for AI products and conducting studies on how AI may affect jobs and the American workforce.