The Artificial Intelligence Risk Evaluation Act requires the Secretary of Energy to establish a new Advanced Artificial Intelligence Evaluation Program within 90 days to test and evaluate high-powered AI systems for potential risks to national security, public safety, and the economy. The program will conduct standardized testing—including adversarial "red team" attacks simulating real-world threats—and provide companies with risk assessments while collecting data to inform future regulations. All companies that develop advanced AI systems (those using over 10^26 computing operations) must participate and submit their code, training data, and other technical materials to the program, with violations subject to fines of at least $1 million per day. Within one year, the Secretary must submit a detailed plan to Congress recommending oversight frameworks, regulatory standards, and monitoring strategies, with annual updates thereafter. The program will operate for 7 years unless Congress renews it, with a focus on helping lawmakers understand whether advanced AI systems could pose existential risks and what government controls—potentially including nationalization—might be necessary.
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