New Jersey bill establishes programs to support AI adoption by local start-ups, small, and medium-sized businesses; appropriates $175.5 million.

The New Jersey bill establishes three programs within the New Jersey Economic Development Authority to support start-ups, small businesses, and medium-sized businesses adopting artificial intelligence capabilities. The "AI Job Creation and Economic Development Fund Program" provides financial assistance for AI businesses to establish, expand, or improve operations and develop AI innovation hubs. The "AI for Small Business Grant Program" awards grants to start-up and small businesses for AI research, development, business expansion, or job creation.

New Jersey bill establishes programs to support AI adoption by local start-ups, small, and medium-sized businesses; appropriates $175.5 million.

The New Jersey bill establishes three programs within the New Jersey Economic Development Authority to support start-ups, small businesses, and medium-sized businesses adopting artificial intelligence capabilities. The "AI Job Creation and Economic Development Fund Program" provides financial assistance for AI businesses to establish, expand, or improve operations and develop AI innovation hubs. The "AI for Small Business Grant Program" awards grants to start-up and small businesses for AI research, development, business expansion, or job creation.