ROMA – “Too difficult to compete with overseas rivals. We need more complete and less disadvantageous rules on artificial intelligence”. As more than 150 executives of European companies they are urging Europe to rethink AI Act, the first artificial intelligence regulation to be adopted in the old continent. A package that has already been given the go-ahead by the European Parliament on 14 June, but what could jeopardize Europe’s competitiveness and technological sovereignty.
In a open letter sent on Friday, the executives of over a hundred companies and start-ups including Heineken, Renault, Airbus and Siemens, to name a few, have spoken out against the new EU legislation on artificial intelligence. Warning that the rules, as they have been drawn up, risk driving companies and capital away from the continent. “The result would be a critical productivity gapwith the United States, the signatories write, pushing that Europe cannot afford to remain on the sidelines.
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The main concern is the addition of new provisions focusing on generative intelligence, which they believe are too strict. The fear of European companies is indeed that generative AI model providers they back off due to too high compliance costs and relocate their activities abroad.
In fact, the draft of the AI Act in its latest version provides that suppliers must register their product in the EU, pass risk and transparency assessments, in fact publicly disclosing the copyrighted data used to train the model. That is why “instead of focusing the law on generative artificial intelligence and implementing “strict compliance”, legislators should limit themselves to broad principles in a risk-based approach,” the letter reads.
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In addition, the companies signing the letter have asked the EU to create a regulatory body made up of industry expertsin order to monitor the applications of the AI Act in tandem with the development of artificial intelligence technology. Indeed, Brussels is still at work to make the final touches to the regulation which is not expected to enter into force for two years.
“We have listened and will listen to all concerns and stakeholders when it comes to regulating AI also in the field of generative AI and foundation models”, he commented Brandon Benifei, head of the Democratic Party delegation to the European Parliament and one of the negotiators of the EU text. “We think our work can positively influence the global conversation and direction when it comes to artificial intelligence and its impact on fundamental rights, without impeding the necessary pursuit of innovation and its application to improve our societies,” he said.