The VET Artificial Intelligence Act directs the National Institute of Standards and Technology (NIST) to develop voluntary guidelines and standards for testing and evaluating artificial intelligence systems within one year of enactment. These guidelines will cover both internal assessments conducted by AI developers and external evaluations by independent third parties, addressing issues like consumer privacy, harm mitigation, data quality, and governance. The bill affects AI developers and companies that deploy AI systems, as well as organizations that conduct AI assessments. The legislation requires NIST to collaborate with government agencies and private sector stakeholders, solicit public comment, and update the guidelines at least every two years. Additionally, the bill establishes an advisory committee to develop recommendations on qualifications for AI assurance evaluators and requires a study of the current sector's capacity to conduct these assessments, with reports due within one to two years.
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