The European Union’s proposed legislation on Artificial Intelligence (AI) has generated concerns among industry leaders who believe it could negatively impact Europe’s competitiveness and technological sovereignty. Over 160 executives from companies like Renault and Meta have signed an open letter expressing their apprehensions.
EU lawmakers have recently agreed on a set of draft rules that require systems like ChatGPT to disclose AI-generated content, distinguish deep-fake images from real ones, and implement safeguards against illegal content. The popularity of ChatGPT has led to multiple open letters urging AI regulation, often citing the potential risks associated with the technology.
Previous letters on this topic included signatures from prominent figures such as Elon Musk, CEO of OpenAI, and Geoffrey Hinton and Yoshua Bengio, two influential figures in the field often referred to as the “godfathers of AI.” However, Yann LeCun, who works at Meta, is among the signatories of the recent letter challenging the EU regulations. Executives from companies like Cellnex, Mirakl, and Berenberg have also signed the letter; however, these companies have not provided immediate comments on the matter.
The organizers of the open letter, Cedric O, former digital minister of France, Jeannette zu Fürstenberg, founding partner of La Famiglia VC, and René Obermann, Airbus chairman, expressed concerns about the European Parliament’s approach to the legislation. They argue that the shift from a risk-based approach to a technology-based one, which was not part of the initial text, could lead to heavy regulation of technologies like generative AI. They believe this could result in high compliance costs and disproportionate liability risks for companies developing such systems.
The letter warns that excessively burdening AI development with regulations may drive innovative companies to relocate their activities outside of Europe and deter investments in European AI projects. OpenAI’s Altman, who had previously threatened to withdraw ChatGPT from Europe due to the potential challenges posed by upcoming AI laws, later retracted his statement and stated that the company has no intentions of exiting the European market.
In response to the concerns raised in the letter, Dragos Tudorache, one of the co-leaders involved in drafting the EU proposals, dismissed the notion that the suggestions made in the letter were not considered in the draft legislation. Tudorache believes that those criticizing the legislation may not have thoroughly read the text and may be influenced by a select group with vested interests in the matter.
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