By The letter warns that the strict rules for generative AI outlined in the AI Act have ‘consequences.’ | Photo by Philipp von Ditfurth/picture alliance via Getty Images
Some of the biggest companies in Europe have taken collective action to criticize the European Union’s recently approved artificial intelligence regulations, claiming that the Artificial Intelligence Act is ineffective and could negatively impact competition. In an open letter sent to the European Parliament, Commission, and member states on Friday, and first seen by the Financial Times, over 150 executives from companies like Renault, Heineken, Airbus, and Siemens slammed the AI Act for its potential to “jeopardise Europe’s competitiveness and technological sovereignty.”
On June 14th, the European Parliament greenlit a draft of the AI Act following two years of developing its rules, and expanding them to encompass recent AI…