Synopsis
European tech executives are advocating for streamlined regulations on AI, arguing that existing rules stifle innovation and growth. They emphasize the need for a robust industrial policy and simpler merger processes to empower local companies. With competitors in other regions already advancing AI technologies in real-world applications, the call to action is urgent.Listen to this article in summarized format
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The European Union resumes talks this month on streamlining the bloc's 2024 AI Act, with the European Commission, the bloc's executive arm, also due to present its "Tech Sovereignty Package" on May 27 -- including plans still under negotiation to support the computer chip industry and AI infrastructure.
"More than three years after the 'ChatGPT moment', Europe is still debating regulation, while others have long shifted focus to scaling AI in physical systems and robotics," the executives wrote in the op-ed.
The commentary, published in newspapers including Germany's Handelsblatt and Italy's Corriere della Sera, also called for stronger industrial policy, and M&A rules that would allow European companies to grow.
"We face fragmented markets and subsidized rivals with very strong market penetration in the EU," the executives wrote.
It was signed by the CEOs of ASML, Airbus , Ericsson, Mistral AI, Nokia,, SAP AG and Siemens, and followed a meeting with European Commission President Ursula von der Leyen.
