AI for Main Street Act in plain language
1: Short title
This section would give the Act the short title "AI for Mainstreet Act."
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1. Short title This Act may be cited as the AI for Mainstreet Act .
2: Guidance on the use of artificial intelligence for small business concerns
This section would add a new duty for small business development centers under the Small Business Act. Small business development centers would be required to assist small business concerns in evaluating artificial intelligence for their operations. That assistance would include providing information, guidance, and training to small business concerns on the use of artificial intelligence, including best practices for using artificial intelligence; using artificial intelligence to plan for unexpected circumstances, protect data and intellectual property, improve cybersecurity, facilitate regulatory compliance, and improve customer trust; and incorporating artificial intelligence into business operations. Small business development centers would also be required to conduct outreach to small business concerns regarding the use of artificial intelligence, to the extent practical. This section would also add a definition of "artificial intelligence" to the Small Business Act, giving the term the same meaning it has in section 5002 of the National Artificial Intelligence Initiative Act of 2020.
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2. Guidance on the use of artificial intelligence for small business concerns (a) In general Section 21(c)(3) of the Small Business Act ( 15 U.S.C. 648(c)(3) ) is amended— (1) in subparagraph (T), by striking and at the end; (2) in the first subparagraph (U) (relating to encouraging and assisting the provision of succession planning), by striking the period at the end and inserting a semicolon; (3) by redesignating the second subparagraph (U) (relating to providing training in conjunction with the United States Patent and Trademark Office) as subparagraph (V); (4) in subparagraph (V), as so redesignated, by striking the period at the end and inserting ; and ; and (5) by adding at the end the following new subparagraph: (W) assisting small business concerns in evaluating artificial intelligence concerning operations, including by— (i) providing information, guidance, and training to small business concerns on the use of artificial intelligence, including— (I) best practices for using artificial intelligence; (II) using artificial intelligence to plan for unexpected circumstances, protect data and intellectual property, improve cybersecurity, facilitate regulatory compliance, and improve customer trust; and (III) incorporating artificial intelligence into business operations; and (ii) conducting outreach to the extent practical to small business concerns regarding the use of artificial intelligence. . (b) Conforming amendment Section 3 of the Small Business Act ( 15 U.S.C. 632 ) is amended by adding at the end the following new subsection: (gg) Artificial intelligence In this Act, the term artificial intelligence has the meaning given such term in section 5002 of the National Artificial Intelligence Initiative Act of 2020 ( 15 U.S.C. 9401 ). .
3: Compliance with CUTGO
This section states that no additional amounts are authorized to carry out this Act or the amendments it makes.
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3. Compliance with CUTGO No additional amounts are authorized to carry out this Act or the amendments made by this Act.