Based on an article by Manatt, Phelps & Phillips LLP, Colorado Governor Jared Polis signed SB205 into law on May 17, 2024. The law imposes strict requirements on developers and deployers of "high-risk" AI systems, aimed at mitigating algorithmic discrimination and ensuring transparency. Health care stakeholders, including hospitals and insurers, are notably affected. The law mandates developers to disclose data usage and risks, both publicly and to the Attorney General. Deployers must implement risk management policies and inform consumers about AI usage. Exemptions apply under specific conditions. The law takes effect on February 1, 2026, but modifications are anticipated due to industry concerns.