Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Businesses, tech groups warn EU against over-regulating AI foundation models

Published 11/23/2023, 01:44 PM
Updated 11/23/2023, 01:45 PM
© Reuters. FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

By Foo Yun Chee

BRUSSELS (Reuters) - Businesses and tech groups on Thursday warned the European Union against over-regulating artificial intelligence systems known as foundation models in upcoming AI rules as this could kill nascent start-ups or drive them out of the region.

The plea came as EU countries and EU lawmakers head into the final stretch of negotiations on rules that could set the benchmark for other countries.

One of the biggest bones of contention is foundation models, such as OpenAI's ChatGPT, which are AI systems that are trained on large sets of data, with the ability to learn from new data to perform a variety of tasks.

"For Europe to become a global digital powerhouse, we need companies that can lead on AI innovation also using foundation models and GPAI," DigitalEurope, whose members include Airbus, Apple (NASDAQ:AAPL), Ericsson (BS:ERICAs), Google (NASDAQ:GOOGL), LSE and SAP, said in a letter.

"As European digital industry representatives, we see a huge opportunity in foundation models, and new innovative players emerging in this space, many of them born here in Europe. Let's not regulate them out of existence before they get a chance to scale, or force them to leave."

Thirty-two European digital associations also signed the letter. GPAI refers to general-purpose artificial intelligence.

The signatories, who said just 3% of the world's AI unicorns come from the European Union, backed a joint proposal by France, Germany and Italy to limit the scope of AI rules for foundation models to transparency requirements.

They also said the current broad scope of the draft AI rules could clash with existing legislation in certain sectors such as healthcare.

"We are increasingly frustrated at what we see as a lack of interest in the effects on the medical sector. Our impression is that people don't care about the content any more, they just want to get it done. We are simply collateral damage," said spokesperson Georgina Prodhan at Siemens Healthineers.

© Reuters. FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The companies also rebuffed calls from creative industries for the AI rules to tackle copyright issues.

"The EU's comprehensive copyright protection and enforcement framework already contains provisions that can help address AI-related copyright issues, such as the text and data mining exemption and corresponding," they said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.