Meta to EU: Your Tech Rules Threaten to Squelch the AI Boom
From the Wall Street Journal, September 19, 2024
A group of companies including Meta Platforms, Spotify and Italian luxury-fashion giant Prada warned Thursday that the European Union risks missing out on the full benefits of artificial intelligence because of the bloc’s tech regulations.
In an open letter that was coordinated by Meta, executives from more than two dozen companies said AI can boost productivity and expand the economy, but Europe might reap fewer rewards than other jurisdictions.
“Europe has become less competitive and less innovative compared to other regions and it now risks falling further behind in the AI era due to inconsistent regulatory decision making,” the letter said.
The letter calls on the EU to harmonize its rules and provide what the signatories refer to as a modern interpretation of the bloc’s data-protection law.
