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Industry warns EU’s AI legislation could harm competition

Executives from leading companies across industry verticals have urged the EU to rethink its Artificial Intelligence Act, describing it as ineffective and a risk to Europe’s competitiveness.

The waning came in the form of an open letter issued today and signed by over 150 executives from companies including Renault, Airbus and Siemens.

Earlier this month, the European Parliament had approved the region’s rules for AI, a key step towards the first comprehensive legislation on AI.

The law, possibly coming into effect as early as 2024, includes a requirement for generative AI systems to be reviewed before their commercial release as well as a ban on real-time facial recognition.

Signatories of the letter argue that the bloc’s rules are too extreme and risk undermining the region’s ambitions instead of establishing the enabling environment for AI innovation the region needs.

We continue to monitor these developments and will return here with further updates.

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Executives from leading companies across industry verticals have urged the EU to rethink its Artificial Intelligence Act, describing it as ineffective and a risk to Europe’s competitiveness.

The waning came in the form of an open letter issued today and signed by over 150 executives from companies including Renault, Airbus and Siemens.

Earlier this month, the European Parliament had approved the region’s rules for AI, a key step towards the first comprehensive legislation on AI.

The law, possibly coming into effect as early as 2024, includes a requirement for generative AI systems to be reviewed before their commercial release as well as a ban on real-time facial recognition.

Signatories of the letter argue that the bloc’s rules are too extreme and risk undermining the region’s ambitions instead of establishing the enabling environment for AI innovation the region needs.