Illustration: Aïda Amer/Axios
Sen. Cory Booker is gearing up to unveil a bipartisan bill aimed at incentivizing AI innovation for prizes of $1 million or more.
Why it matters: Prize competitions have long helped spur innovation to accelerate research in science and technology.
What's inside: Sens. Mike Rounds and Martin Heinrich are co-sponsors of the AI Grand Challenges Act.
- It would use prizes to incentivize researchers, entrepreneurs and innovators to address challenges in specific sectors such as health or national security.
- The program would also address challenges related to quantum computing, disaster preparedness and supply chain resilience, according to an announcement shared exclusively with Axios.
- Breakthroughs in cancer detection and treatment would carry a prize of $10 million or more.
- NSF would create the program and administer the prizes.
