The bill establishes the AI and Labor Market Study Commission in New Jersey, tasked with analyzing the impact of artificial intelligence (AI) on the labor market. The commission will consist of 11 members, including four state officials serving ex officio and seven public members with expertise in AI technology, technology, business administration, economics, employment training, or labor. The commission's objectives include engaging with technology experts, identifying high-risk jobs likely to be displaced by AI, developing training programs for displaced workers, and coordinating with the Department of Education and the Department of Labor and Workforce Development to implement recommended strategies. The commission is also required to provide biannual reports to the Governor and the Legislature on its findings and recommendations.

Additionally, the bill establishes the Job Transition Fund to support displaced workers and facilitate their transition to new AI-driven roles through education, training, and job placement services. The fund will be administered by the Commissioner of Labor and Workforce Development and will be used for initiatives identified by the commission's research. The initial funding for the Job Transition Fund will come from the Workforce Development Partnership Fund. Overall, the bill aims to address the challenges and opportunities presented by AI in the workforce, ensuring that workers are supported during this transition.