EU business leaders worry that a perceived excess of regulation could derail efforts to make Europe one of the front-runners in AI technology development. Credit: BrownMantis A proposed EU law that would create the West’s first regulatory scheme for AI is the target of criticism from the business and technology sectors, which published an open letter today arguing for fewer restrictions and a less “bureaucratic” approach. The letter was signed by prominent executives from a who’s-who of major European companies like Siemens, Dassault, Heineken, Renault, Deutsche Telekom, and Airbus. In total, 163 people signed the letter. The signatories urged the EU to adopt a more hands-off approach to AI regulation, worrying that the draft AI Act would make the continent less competitive in the fast-growing field. “Wanting to anchor the regulation of generative AI in law and proceeding with a rigid compliance logic is as bureaucratic of an approach as it is ineffective in fulfilling its purpose,” the letter said. “In a context where we know very little about the real risks, the business model, or the applications of generative AI, European law should confine itself to stating broad principles in a risk-based approach.” The letter stressed the importance of generative AI, likening it to the invention of the microchip or the internet, and stated that the need to comply with the law could result in major AI innovators relocating out of Europe. “Under the [draft law] recently adopted by the European Parliament, foundation models, regardless of their use cases, would be heavily regulated, and companies developing and implementing such systems would face disproportionate costs and disproportionate liability risks,” the letter said. The AI Act, which passed the European Parliament earlier this month, will become law if and when it is ratified by each EU country. Provisions include a blanket ban on the use of AI in biometric identification, a requirement for labeling of AI-generated content, and safeguards against AI and illegal content. The act was amended in April to include more regulation for generative AI, which prompted some debate over last-minute changes. Ultimately, lawmakers formed a consensus that large language models such as ChatGPT, Midjourney have to be regulated to preserve core EU rights and values, like freedom of expression. A provision that would require all such generative AI creators to disclose copyrighted material was also included. Related content news Amazon Q Business now available with new app-builder capabilities The new Amazon Q Apps feature allows enterprise users to build applications using natural language prompts. By Anirban Ghoshal Apr 30, 2024 4 mins Amazon Web Services Generative AI Enterprise Applications news analysis CHIPS Act is working as billions of dollars in payouts is divvied out to semiconductor makers About $29 billion has been earmarked for more than a half dozen chip makers; the Biden Administration believes the spending will spur US chip production to reach 20% of the world's market, nearly double what America now produces. By Lucas Mearian Apr 30, 2024 7 mins CPUs and Processors Government feature Apple is intensely focused on its global AI efforts When the ship that is Apple moves in any direction, you can always count on careless whispers to expose the destination. From research labs to sophisticated AI models and Apple Silicon for server farms, here's what we've learned in just one By Jonny Evans Apr 30, 2024 6 mins Apple Artificial Intelligence feature What Capgemini software chief learned about AI-generated code: highly usable, 'too many unknowns' for production While most of Capgemini's clients are reticent to use AI-generated code in production, the technology has led to big efficiency and productivity increases that developers and engineers might not yet realize, says Jiani Zhang, the company's By Lucas Mearian Apr 30, 2024 21 mins Developer Engineer Generative AI Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe