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The AI Grand Challenges Act of 2024 authorizes the National Science Foundation Director to establish a competitive prize program for artificial intelligence research and development addressing national priorities such as national security, health, energy, environment, and other sectors. The bill requires the NSF to identify specific grand challenges, establish clear success metrics, and award cash prizes of at least $1 million per winner (with at least $10 million for a required cancer-focused challenge). The program will operate through existing prize competition authorities and coordinate with other federal agencies and the public to identify research priorities.
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