EU’s Proposed AI Legislation Could Hurt Europe’s Competitiveness and Scare Investors, Company Executives Say

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The proposed EU Synthetic Intelligence laws would jeopardize Europe’s competitiveness and technological sovereignty, based on an open letter signed by greater than 160 executives at firms starting from Renault to Meta.

EU lawmakers agreed to a set of draft guidelines this month the place programs like ChatGPT must disclose AI-generated content material, assist distinguish so-called deep-fake photographs from actual ones and guarantee safeguards in opposition to unlawful content material.

Since ChatGPT turned in style, a number of open letters have been issued calling for regulation of AI and elevating the “threat of extinction from AI.”

Signatories of earlier letters included Elon Musk, OpenAI CEO Sam Altman, Geoffrey Hinton and Yoshua Bengio – two of the three so-called “godfathers of AI”.

The third, Yann LeCun, who works at Meta, signed Friday’s letter difficult the EU rules. Different signatories included executives from a various set of firms resembling Spanish telecom firm Cellnex, French software program firm Mirakl, and German funding financial institution Berenberg.

These firms, together with Renault and Meta, didn’t instantly reply to requests for remark.

The letter warned that underneath the proposed EU guidelines applied sciences like generative AI would turn out to be closely regulated and corporations creating such programs would face excessive compliance prices and disproportionate legal responsibility dangers.

Such regulation might result in extremely revolutionary firms transferring their actions overseas and buyers withdrawing their capital from the event of European AI usually, it stated.

OpenAI’s Altman, who had in Could threatened to tug ChatGPT from Europe if it turns into too arduous to adjust to upcoming AI legal guidelines, later reversed his place and stated the corporate has no plans to exit.

© Thomson Reuters 2023

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