Sifted report
Founders in the space are worried about blanket rules being applied across very different areas of AI
The EU’s proposed AI legislation is set to deal a serious blow to companies working with generative models if it is ratified as is, founders in the sector have warned — putting the region even further behind the US and China in the AI arms race.
According to entrepreneurs working with these models, the legislation as written would subject large language models (LLMs) to the highest degree of scrutiny and red tape, even if they’re not being used for sensitive use cases like hiring.
European companies and investors have become increasingly concerned about the region’s ability to compete with US rivals like OpenAI, NVIDIA and Anthropic without the support of regulators. The bloc has the world’s strictest privacy rules; just earlier this month Italian regulators said they were banning OpenAI’s ChatGPT over privacy concerns.
Read full article at https://sifted.eu/articles/eu-ai-act-generative-chatgpt
