NY Governor Kathy Hochul on AI, Energy, and Economic Growth

Empire AI Initiative

• 💡 Empire AI was launched to position New York as a leader in artificial intelligence, fostering a partnership between academia, state government, and the private sector.
• 🚀 The initiative has secured nearly $500 million in investment and is developing an AI beta expected to be 11 times more powerful than its current alpha version.
• 🧠 An emerging technologies task force, co-chaired by the CEOs of IBM and Girls Who Code, aims to diversify the AI workforce, focusing on increasing representation for women and people of color.
• 🎓 The program aims to attract top talent, including professors and students, by providing unparalleled computing power for research and PhD work across all New York universities.

Energy Strategy for AI Growth

• ⚡ New York employs an all-of-the-above energy approach to meet the significant power demands of AI development.
• 🏞️ Hydroelectric power from the Niagara plant and nuclear energy already supply a substantial portion of upstate New York's energy needs, with plans to increase nuclear capacity.
• 💨 Governor Hochul successfully advocated for offshore wind power, emphasizing its role in clean energy and job creation, and also sought federal cooperation on streamlining nuclear power approvals.

AI Regulation and Business Climate

• ⚖️ Governor Hochul is reviewing the Rays Act, which focuses on protecting foundational AI models and ensuring their security, while also highlighting New York's leadership in protecting children from AI-related risks.
• 🌐 There is a preference for federal regulation of AI to ensure consistency across states, though companies are encouraged to adopt internal controls.
• 📈 New York aims to foster innovation and attract businesses by being sensitive to competitiveness, avoiding income tax increases on high-net-worth individuals, and breaking down barriers to success.
• 🤝 The state seeks to partner with companies that demonstrate social responsibility, such as Micron's investment in semiconductor manufacturing, by ensuring they invest in local communities and talent development.

Economic Competitiveness and Mayoral Race

• 🏘️ Governor Hochul emphasizes that the City of New York is a subdivision of the state, meaning any tax increases proposed by the mayor would require her approval, ensuring a pro-growth, pro-business environment.
• 🌍 A significant concern is the impact of federal policies on attracting foreign-born talent, who are crucial to the tech startup ecosystem.
• 🎰 While not allowed to influence the process directly, Governor Hochul sees potential revenue and tourism benefits from casinos, particularly in the right locations.