Fear of Loss European Entrepreneurs Fear Competitive Disadvantages Due to AI Law

Source: dpa 1 min Reading Time

In an open letter to EU Commission President Ursula von der Leyen, more than 40 top executives of European companies are now sounding the alarm over the AI law ...

European companies are unsettled by the EU's AI law (AI Act). The reason for their discontent was expressed in an open letter to Ursula von der Leyen ...(Image: Ukiduki)
European companies are unsettled by the EU's AI law (AI Act). The reason for their discontent was expressed in an open letter to Ursula von der Leyen ...
(Image: Ukiduki)

Voices from the tech scene have long criticized the EU's AI Act as bureaucratic and anti-innovation. The EU is losing itself in excessive complexity in regulating artificial intelligence (AI) and thereby risking its own competitiveness. This is at least the main argument presented in a letter to Ursula von der Leyen, a copy of which the dpa has obtained. The managers (including those from Lufthansa, Mercedes-Benz, and Philips) are reportedly calling for the implementation of the EU AI Act to be postponed by two years. According to the letter, the European balance between regulation and innovation, which has been carefully maintained over the years, is currently off balance. Particularly regarding key technologies like AI, Europe cannot afford to be slowed down by overlapping and unclear regulations. This not only harms future European champions but also the ability to deploy AI on a global scale, the letter states.

(The EU Commission is currently working on a voluntary code of conduct for so-called foundation models like GPT-4, Gemini, or Llama. The code is intended to cover core principles like transparency and safety and is expected to be in place by August, well before many binding provisions of the AI Act take effect).

Subscribe to the newsletter now

Don't Miss out on Our Best Content

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy. The consent declaration relates, among other things, to the sending of editorial newsletters by email and to data matching for marketing purposes with selected advertising partners (e.g., LinkedIn, Google, Meta)

Unfold for details of your consent