To require the financial regulators to carry out studies on the realized and potential benefits of artificial intelligence, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require the financial regulators to carry out studies on the realized and potential benefits of artificial intelligence, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HF236805E0B25437593FF7E3BF306C107: 1. Short title This Act may be cited as the Analysis and Improvement Act of 2024 or the AI Act of 2024.
- Section H7BCE36B78E894A8E906EBF05453D10A4: 2. Study on AI benefits and risks by banking regulators Not later than 180 days after the date of the enactment of this Act, the Board of Governors of the...
- Section HCE5D24E9026642F6ABA0F81F0CBD105B: 3. Study on AI benefits and risks by the Securities and Exchange Commission Not later than 180 days after the date of the enactment of this Act, the Securities...
- Section HE3B17D9D3E044BCF9B912973C49D0DE1: 4. Study on AI benefits and risks by housing and mortgage regulators Not later than 180 days after the date of the enactment of this Act, the Secretary of...
- Section H4DC618CA8103476CAF0598B960B74DEA: 5. Study on AI benefits and risks in securing the U.S. financial system from national security threats Not later than 180 days after the date of the enactment...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require the financial regulators to carry out studies on the realized and potential benefits of artificial intelligence, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Government Operations
Primary Purpose
This bill, To require the financial regulators to carry out studies on the realized and potential benefits of artificial intelligence, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Waters (for herself and Mr. McHenry) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
- "the_administrator"
- → The Administrator identified in the operative section
- "secretary_of_treasury"
- → Secretary of the Treasury
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology