Company executives are urging Europe to rethink its world-leading AI rules

LONDON (AP) More than 150 executives are urging the European Union to rethink the worlds more complete rules for artificial intelligencesaying on Friday that impending regulations will make it more difficult for companies in Europe to compete with rivals abroad, especially when it comes to the technology behind systems like ChatGPT.

Officials from firms from French aircraft maker Airbus and automaker Renault to Dutch beer giant Heineken have signed an open letter to EU leaders saying the 27 nations block groundbreaking legislation could hinder the development of generative AI. This technology gives popular AI chatbots like ChatGPT the power to generate text, images, video, and audio that resemble human labor.

Such regulation could lead to highly innovative companies move your business abroad and investors withdrawing their money from AI development in Europe, the letter says. The result would be a critical productivity gap between both sides of the Atlantic.

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Executives say laws requiring strict compliance would be ineffective when so little is still known about the risks and uses of generative AI. They urged the EU to revise the AI ​​law to broadly focus on risks.

With growth concerns about the impact of AI on all aspects of life, the letter recognizes a clear need to properly train these models and ensure their safe use.

Business leaders have called for an expert regulatory body capable of regularly adapting rules to new developments and responding to emerging risks. They also pointed to the need for transatlantic rules.

It is the last letter a evaluate the future of AI, which dazzled users but raised concerns about data privacy, copyright infringement, and misinformation. This has prompted governments around the world to race to curb the technology.

There are also fears of more existential threats to humanity, which scientists and tech industry leaders, including high-level executives from Microsoft and Google, warned about last month.

Sam Altman, CEO of ChatGPT creator OpenAI, e Geoffrey Hintona computer scientist known as the godfather of AIthey were among the hundreds of prominent personalities who signed that statement.

Yann LeCun, Meta’s chief AI scientist and another AI pioneer, who signed off on the European executives’ letter on Friday, was missing.

The EU is still putting the finishing touches to its AI law and the rules won’t go into effect for two years.

I am convinced that they have not read the text but have rather reacted to the stimuli of a few, said Dragos Tudorache, a Romanian MEP of the European Parliament who is co-leader of the measure, of the executives who signed the letter.

He noted that the letters only concrete suggestions are already part of the legislation, including an industry-led process for setting standards, governance with industry at the table and a light regulatory regime that requires transparency.

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