AI Grand Challenges Act of 2024

The AI Grand Challenges Act of 2024 creates a National Science Foundation program to award cash prizes for solving specific artificial intelligence challenges in critical U.S. priority areas like health, national security, energy, and cancer research. It requires the NSF to establish competitions with clear problem statements and success metrics, including a mandatory cancer-focused competition offering at least $10 million in prizes within one year of enactment. Eligible participants must be U.S. entities or U.S. citizens/permanent residents, and winners receive minimum $1 million prizes per competition. The NSF must publish competition details online, report annually to Congress on program outcomes, and ensure public accessibility of all challenges.