Federal contractors must be ready to report AI incidents to agencies within 72 hours according to the latest Office of Management and Budget guidance on adhering to obligations under President Biden's artificial intelligence executive order. “Agencies must, to the greatest extent practicable, include contractual terms requiring that vendors have a process for identifying and disclosing to agencies serious AI incidents and malfunctions of the acquired AI system, or service within 72 hours, or a timely manner based on the severity...
