California governor vetoes controversial AI bill in a win for Big Tech – Tech executives and investors opposed the measure, which would have required companies to test the most powerful AI systems before release.

Submission statement: California Gov. Gavin Newsom (D) vetoed a bill on Sunday that would have instituted the nation’s strictest artificial intelligence regulations — a major win for tech companies and venture capitalists who had lobbied fiercely against the law, and a setback for proponents of tougher AI regulation.

The legislation, known as S.B. 1047, would have required companies to test the most powerful AI systems before release and held them liable if their technology was used to harm people — for example, by helping to plan a terrorist attack.

Harming innovation arguments by companies or investors just means that they won’t make money faster.