Federal Artificial Intelligence Risk Management Act of 2023

This bill requires all federal agencies to adopt the National Institute of Standards and Technology's (NIST) Artificial Intelligence Risk Management Framework for their use and procurement of AI systems. It mandates agencies to implement specific risk-reduction standards, cybersecurity measures, and supplier attestations before procuring AI, while providing guidance for small businesses. Agencies must report annually to Congress on compliance, and the NIST must develop voluntary testing standards for AI acquisitions within 90 days. The law excludes national security systems but directly affects all non-exempt federal agencies and AI suppliers working with them.