Europe is going to loosen regulating controls to boost growth in artificial intelligence within the continent. This was announced by French President Emmanuel Macron during an AI summit held in Paris on Monday. He urged for more investments from the European Union, especially from France.
Henna Virkkunen, the EU’s digital chief remarked that it is time that the bloc streamlined regulations to take on a more business-friendly approach. Meanwhile, U.S. President Trump was busy razing the safeguards previously established concerning AI apparently to increase U.S. competitiveness.
There is pressure that the EU faces to also open up a little wider in terms of the regulatory frame to keep European firms in the competitive race. Macron emphasized, “We will simplify, It’s evident that we need to realign with global standards.”
As an example of how fast the Notre Dame cathedral was reconstructed after a fire disaster by using special simplified regulations, Macron said, “We will apply the Notre Dame model to data centers, market access, AI, and overall attractiveness.”
However, there are some people not in favor of this kind of relaxation regarding the regulatory approach in AI in Paris. Brian Chen, policy director at Data & Society, a non-profit based in Maryland, warned, “My concern is that there will be external pressures, particularly from the U.S., to dilute the EU’s AI Act and erode existing protections.”
At the two-day summit, many participants urge the reconsideration of the EU on its regulatory framework.
Sundar Pichai, CEO of Alphabet, declared, “Europe’s productivity depends on the ability to use this new technology.”
In an exclusive interview with Reuters, Virkkunen advocated for change. She said, “I’m with industry leaders on the need to re-evaluate our regulations since we’re currently suffering from over-regulation.”
She further added, “We will remove the red tape and simplify administrative burdens confronting our industries.”
Business Journalist
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