Senators this afternoon will dig into how to protect actors, singers and other artists from AI-generated replicas made of them without consent, Maria reports.

Why it matters: Copyright law hasn't caught up to generative AI, and lawmakers are hoping to formally introduce the NO FAKES Act to protect Americans soon.

What's inside: The draft bill from Sens. Chris Coons, Marsha Blackburn, Amy Klobuchar and Thom Tillis under discussion at the 2:30pm ET Senate Judiciary IP panel hearing would hold individuals or companies liable for producing voice and visual likenesses without permission.

• Platforms would be liable for knowingly hosting unauthorized replicas.
• Certain digital replicas would be exempted based on First Amendment protections.

What they're saying: New legislation should simplify and preempt current conflicting state regulations, Digital Media Association President Graham Davies is expected to say during the hearing.

• Davies will say the original content creator should be held responsible and legislation should address all types of content, not just sound recordings and motion pictures.
• DiMA says its members — which include platforms like Amazon, Apple Music, Spotify and YouTube — do not support the NO FAKES Act in its current form.
• SAG-AFTRA National Executive Director Duncan Crabtree-Ireland will call for a federal IP voice and likeness right that empowers people to take down content while balancing free speech protections.

Catch up quick: After one of the longest strikes against Hollywood studios, the actors union in December ratified a contract that offers some protections from AI.

• But some artists remain concerned studios can still use AI that resembles them and their work.

What we're watching: Lawmakers are bringing in UK performer FKA Twigs, which is sure to draw more attention to the issue.

• UK business and trade official Rupert Daniels said artists want protection from AI-generated works using their copyrighted material without compensation, and that the UK music industry is interested in the EU AI Act and its potential impact on IP rights.
• Speaking to Axios on the sidelines of SXSW earlier this year, Daniels said the UK government is exploring the technology's benefits for creative industries, including using it to boost productivity so that artists can focus more on the creative process.

What's next: Lawmakers are looking to introduce the bill as soon as possible.

• But they're still incorporating feedback, including from today's hearing, Coons' communications director, Will Baskin-Gerwitz, told Axios.

Sen. Cory Booker is gearing up to unveil a bipartisan bill aimed at incentivizing AI innovation for prizes of $1 million or more, Maria reports.

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 Maria.
• Breakthroughs in cancer detection and treatment would carry a prize of $10 million or more.
• NSF would create the program and administer the prizes.