COMPANY EXECUTIVES URGE EUROPE TO RETHINK ITS WORLD-LEADING AI RULES

More than 150 executives are urging the European Union to rethink the world’s most comprehensive rules for artificial intelligence, saying that upcoming regulations will make it harder for companies in Europe to compete with rivals overseas, especially when it comes to the technology behind systems like ChatGPT.

- 

Officials at companies from French planemaker Airbus and carmaker Renault to Dutch beer giant Heineken signed an open letter to EU leaders saying the 27-nation bloc’s groundbreaking legislation may put shackles on the development of generative AI. That technology gives popular AI chatbots like ChatGPT the power to generate text, images, video and audio that resemble human work.

“Such regulation could lead to highly innovative companies moving their activities abroad “ and investors withdrawing their money from AI development in Europe, the letter said. “The result would be a critical productivity gap between the two sides of the Atlantic.”