Dozens Of Leading EU Firms Push Back On New AI Legislation

A new EU legislation related to the world of AI is up and running but it’s not quite getting the response that many had hoped for.

So many business leaders in the region have opted to take a step back and have even sent out warnings that such laws could end up causing more harm than good in terms of limiting competition and reducing growth and investments.

To mark the news further, a letter was sent out by lawmakers in this area on Friday where they spoke about firms such as Airbus, Carrefour, and even Siemens putting out major concerns regarding this new AI Act. And for those who might not be aware, it’s deemed to be one of the most comprehensive rules out there today.

Other leading names were seen arguing about how such rules are designed to serve as roadblocks more than anything else. And it’s better to protest now than show regrets later.

Another assessment of the case revealed how such legislation is jeopardizing the region’s technical rights and making it less competent to tackle major challenges that are about to come it's way.

Many people argue that the rules end up going too far and while the goal seems to be regulating the world of AI, such models are literally going way ahead than they should in this manner.

It’s not exactly shocking to hear this news because ever since the world of generative AI has come into existence, people have been expressing major concerns about the ordeal. They’ve been speaking about how technology is soon going to make humans extinct while top experts even stated how pausing the development and training of AI further should come to a pause or else it would provide major risks that go as far as starting new nuclear wars and perhaps another pandemic.

The new EU regulations are pushing forward for major change and preventing innovation from taking place across Europe as they would cause a huge rise in compliance expenses with major liability risks too.

As a result, it could give rise to a major gap in terms of productivity between both sides of the world.

Today, executives want people to know that policymakers need to make amendments to the bill before it’s too late. And that is something that ended up being agreed upon among different states of the European Union.

Photo: Freepik
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