This bill mandates that artificial intelligence companies in New Jersey conduct annual safety tests on their technologies and report the results to the Office of Information Technology. The Office is tasked with establishing minimum requirements for these safety tests, which must assess potential cybersecurity threats, biases, and legal compliance related to the artificial intelligence technology. The bill defines key terms such as "artificial intelligence," "artificial intelligence company," and "safety test," ensuring clarity in the scope of the legislation.

Artificial intelligence companies are required to submit detailed reports that include a list of tested technologies, descriptions of the safety tests conducted, any third parties involved in the testing, and the results of these tests. The Office of Information Technology will review these annual reports and is authorized to adopt necessary rules and regulations to implement the bill's provisions. The act is set to take effect six months after its enactment.