The EU’s AI regulations sparked a letter signed by 160 tech execs

Cointelegraph
Cointelegraph

30 Jun 2023 11:53 AM

The letter warned lawmakers that the current proposed rules would cause heavy regulation of generative AI tools making it difficult for companies developing the technology to thrive in the region. ...

  • Over 160 tech company executives have issued an open letter to lawmakers in the European Union, urging careful consideration of AI regulations.
  • They express concerns that the proposed EU AI Act could hinder industry competitiveness and innovation.
  • The letter specifically highlights heavy regulation of generative AI tools and the potential liability risks and compliance costs for companies.
  • The European Parliament recently passed the initial EU AI Act, which includes measures such as disclosure of AI-generated content and bans on certain AI services and products.
  • Individual negotiations among parliament members will take place before the bill becomes law, allowing tech companies to petition for more lenient measures.
  • Microsoft's president and OpenAI's CEO have engaged with European regulators on AI regulation, expressing concerns about over-regulation.
  • The chief of tech for the EU suggests a voluntary "AI code of conduct" between the EU and the US while permanent measures are finalized.
  • In March, another open letter by tech industry leaders, including Elon Musk, called for a temporary pause on AI development and regulations.

The article presents a mixed sentiment, with tech company executives expressing concerns about the proposed EU AI Act, while also acknowledging the need for regulation and suggesting a voluntary code of conduct.

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