This bill mandates that artificial intelligence companies in New Jersey conduct annual safety tests on their AI 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 include analyses of potential cybersecurity threats, data sources for biases, and possible remedies for identified issues. The bill defines key terms such as "artificial intelligence," "artificial intelligence company," and "safety test," ensuring clarity in the scope of the legislation.

Additionally, the bill requires artificial intelligence companies to provide detailed reports to the Office of Information Technology, including a list of technologies tested, 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 also 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.