A bipartisan task force led by Reps. Ted Lieu and Jay Obernolte is formulating regulations for AI to tackle threats like election interference and IP theft.

The task force is aiming to present a comprehensive AI regulatory framework by year's end, alongside immediate legislation for critical AI concerns.

There is a heightened focus on countering China's AI influence and the misuse of AI in weaponry.

The CREATE AI Act, endorsed by the task force, seeks to boost AI research funding.

The task force consists of an equal number of Republicans and Democrats, totalling 22 members, each bringing a diverse perspective on AI.

Rep. Obernolte's background as a software company executive provides a strong foundation in AI policy, advocating a balanced regulatory approach.

Despite facing complex issues, the task force is dedicated to developing informed AI regulation.