philip lelyveld The world of entertainment technology

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 Friday 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. ...

“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.” ...

The corporate leaders called for a regulatory body of experts that can regularly adapt rules to new developments and respond to risks that emerge. They also pointed to the need for transatlantic standards.

It’s the latest letter to weigh in on the future of AI, which has dazzled users but raised concerns about data privacy, copyright infringement and disinformation. That has sent governments worldwide racing to rein in the technology. ...

“I am convinced they have not read the text but have rather reacted on the stimulus of a few,” Dragos Tudorache, a Romanian member of the European Parliament who is co-leading the measure, said of the executives who signed the letter.

He noted that the letter’s “only concrete suggestions” are already part of the legislation, including “an industry-led process for defining standards, governance with industry at the table and a light regulatory regime that asks for transparency.” ...

See the full story here: https://apnews.com/article/artificial-intelligence-europe-regulations-chatgpt-c2f08ee87d82cea63cfcbfa166709d52