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29 May 2024

Big Tech execs say Europe’s new AI law could harm innovation

Tom Foster

Amazon and Meta executives told CNN this week that some of the fears about artificial intelligence are overblown and that the European Union’s sweeping new AI rules risk holding back innovation.

The EU gave the final green light to its AI act Tuesday, the same week tech leaders gathered in Paris for the annual VivaTech conference.

The first-of-its-kind law is poised to reshape how firms and other organizations in Europe use AI for everything from health care decisions to policing. It imposes blanket bans on using the technology in ways deemed “unacceptable” — for example, for social scoring.

The regulation also creates new disclosure obligations for large AI companies and requires more transparency on uses of AI considered “high-risk,” such as for education and hiring.

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