Observed Signal · Feb 28, 2023 · Policy Update · Source: Trending Topics · Impact: 3/5 · Sentiment: Negative
Critics: Real AI Strategy Needs Funding, Not Over-Regulation
European business leaders and think tank representatives are criticizing the EU's proposed AI Act, warning that over-regulation could stifle AI innovation in Europe and drive development to the US and China. Alexander Wrabetz of Future Vienna/SWV Vienna and Marcus Arige of the Social Democratic Business Association Vienna argue that the regulation would impose administrative burdens that startups cannot handle. They point to a leaked draft that may classify AI-generated text and audio-visual content, including tools like ChatGPT, Jasper.ai, Dall-E and Stable Diffusion, as high-risk. The authors cite that 53% of global private AI investment goes to the US, 23% to China, and only 6% to Europe. They call for a real European AI strategy with substantial public funding instead of regulation. The article also notes European AI champions such as Aleph Alpha and DeepL that compete internationally.
The EU AI Act is a major regulatory development that could restrict how AI-powered tools, including advertising and marketing technologies, are deployed in Europe; the article also highlights a significant investment gap that may shape the competitive landscape.
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Key Takeaways & Evidence Grounding
- The EU AI Act is in final negotiations in Brussels.
- A leaked draft may classify AI-generated text and audio-visual content as high-risk, potentially affecting tools like ChatGPT, Jasper.ai, Dall-E and Stable Diffusion.
- Critics Alexander Wrabetz and Marcus Arige warn the regulation could push AI development out of Europe.
- According to the critics, 53% of global private AI investment goes to the US, 23% to China and only 6% to Europe.
- European AI companies Aleph Alpha and DeepL are highlighted as internationally competitive.
Connected Companies & Entities
7 Entities mapped“US internet companies Microsoft, Google, Meta and co are rolling out AI chatbots like ChatGPT....”
“Google's subsidiary DeepMind is from the UK....”
“US internet companies Microsoft, Google, Meta and co are rolling out AI chatbots like ChatGPT....”
“US internet companies Microsoft, Google, Meta and co are rolling out AI chatbots like ChatGPT....”
“Aleph Alpha from Heidelberg is technically on par with Open AI and Meta....”
“Aleph Alpha from Heidelberg is technically on par with Open AI and Meta....”
“DeepL from Cologne is considered superior to Google Translate with its translation tools....”
Ontology Mapping & Concepts
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