New York would audit AI labs like banks — and pull the plug

State Sen. Andrew Gounardes and Assemblymember Jordan Wright introduced a bill on October 29 that builds on New York's RAISE Act, requiring large AI developers to hire independent, state-licensed “frontier examiners” for annual audits plus catastrophic-risk assessments every 90 days.

The bill would also let the state's new DIGIT office limit the computing power developers devote to training or automated AI research, and let the attorney general ask a court to halt dangerous activity, including restricting a model's deployment in New York.

Developers would have to report quarterly on how much of their AI research is automated and disclose any substantial jump in risk, or in a model's ability to automate AI research, within 72 hours — oversight the bill's backers explicitly compare to bank supervision.