CEOs from major European companies, including Airbus and BNP Paribas, have appealed to Brussels for a delay in the new artificial intelligence (AI) law, arguing that it could undermine Europe's competitiveness relative to the US and China.
Position of CEOs
In a letter signed by executives from companies like Carrefour and Philips, they warn that overlapping and unclear regulations could deter investment and slow down AI development in Europe. They claim that the complex rulebook threatens Europe's AI ambitions.
Discussion on Compliance Guidelines
The European technology commissioner has stated that a 'code of practice' will be issued before the law takes effect in August, designed to guide companies in compliance with the new regulations. Senior representatives from major US tech firms have met with EU officials to discuss revisions to the legislation.
Concerns from Startups and Rights
Startups and their leaders have expressed worries that unclear regulations may lead to fragmented national frameworks, giving larger US tech firms a competitive edge. Over 30 startup CEOs have signed a letter warning about the rushed nature of the legislative proposals.
In light of the calls for simplification of the legislation, the European Commission emphasizes its commitment to the main goals of the AI Act, though it remains unclear how these goals will be achieved amid the concerns voiced by the business sector.
