Op-Ed | AI Research and Investment Face Regulatory Headwinds if RAISE Act Becomes Law | amNewYork

"As the home to world-class universities conducting cutting-edge research, industries rapidly adapting as technology evolves, and a thriving startup scene attracting record investment, New York is quickly becoming a global hub for artificial intelligence. Building on these strengths, the state is investing heavily to remain at the forefront of AI innovation through Gov. Kathy Hochul's Empire AI consortium a nation-leading publicprivate partnership with the mission of advancing development for the public good."

"The RAISE Act, a well-intentioned but misguided bill passed in Albany earlier this year, risks driving developers and investors to less restrictive states. As written, it could even disrupt how academic institutions partner with industry leaders on AI-powered breakthroughs in areas like cancer treatment. Earlier this month, Google DeepMind announced that through a collaboration with Yale University, it identified a promising new pathway for developing therapies to fight cancer."

"New York City's startup ecosystem attracted $28.5 billion in venture capital in 2024, making it the nation's second-largest market after Silicon Valley, according to the State Comptroller. The Big Apple's woman-founded companies raised $955 million, outperforming San Francisco during the twelve-month period ending June 2025. Much of that surge has been fueled by AI, which now accounts for nearly half of all venture funding nationwide."

New York combines world-class universities, adaptable industries, and a thriving startup scene to emerge as a global AI hub. The state is investing through Gov. Kathy Hochul's Empire AI consortium, a public-private partnership aiming to advance AI development for the public good. The RAISE Act, passed earlier this year, could drive developers and investors to less restrictive states and disrupt academic-industry collaborations on AI-driven breakthroughs such as cancer therapies. High-profile partnerships like Google DeepMind with Yale and OpenAI's collaborations with research institutions underscore research value. New York City's startups attracted $28.5 billion in VC in 2024, with AI fueling nearly half of nationwide venture funding. Lawmakers should reassess the RAISE Act to avoid harming research, investment, and partnerships.

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