More than 150 European companies say EU AI Act is a bad idea

Over 150 executives from European companies, including Airbus and Siemens, have criticized the proposed EU artificial intelligence regulation in an open letterarguing that the rules could harm competitiveness and technological sovereignty without adequately addressing challenges.

The concerns focus on the regulations’ heavy emphasis on foundation models, which underpin chatbots, and the potential for disproportionate compliance costs and liability risks. The companies have called for a regulatory body of industry experts to monitor the implementation of the law instead of focusing on rigid compliance.

In our assessment, the draft legislation would jeopardize Europe’s competitiveness and technological sovereignty without effectively tackling the challenges we are and will be facing. […] Europe cannot afford to stay on the sidelines.

Excerpt from the open letter sent to the EU Commission, the parliament and member states

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