Some of the biggest companies in Europe, including Renault, Heineken, Airbus, and Siemens, have expressed concerns over the European Union’s recently approved Artificial Intelligence Act. In an open letter, over 150 executives criticized the act for being ineffective and potentially harmful for competition. The companies argue that the regulations are too strict, particularly for generative AI systems, and could deter AI providers from operating in the European market. They also called for the formation of a regulatory body comprising AI industry experts to monitor the act’s application. The EU Parliament greenlit the draft on June 14th, but the law is still undergoing negotiations before taking effect.
Meta Data: {“keywords”:”European Union, artificial intelligence regulations, AI Act, competition, open letter”}
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