Facebook parent Meta, Spotify CEOs to EU: Your AI rules are “riddled with…” – Times of India

Facebook parent company Meta’s CEO Mark Zuckerberg and Spotify chief executive Daniel Ek have critisised European regulations on open-source artificial intelligence (AI). They argue that the complex rules could hinder innovation and cause Europe to fall behind in AI development.
Europe, which “has more open-source developers than America”, is well placed to make the most of the open-source AI wave, news agency Reuters cited the CEOs as saying.
“Yet its fragmented regulatory structure, riddled with inconsistent implementation, is hampering innovation and holding back developers,” the CEOs noted.
The CEOs said the tech industry in Europe faces “overlapping regulations and inconsistent guidance on how to comply with them” instead of clear rules.
The CEOs advocated for a streamlined regulatory framework that would support European developers and promote innovation in the AI sector.

Dutch prince “really concerned” over Europe’s regulation on Al

Earlier this year, Prince Constantijn of the Netherlands said that Europe’s approach to regularise AI may become a reason for the region to fall behind the US and China on AI development.
“Our ambition seems to be limited to being good regulators,” Constantijn told CNBC on the sidelines of the Money 20/20 fintech conference in Amsterdam.
“We’ve seen this in the data space [with GDPR], we’ve seen this now in the platform space, and now with the AI space,” added Constantijn, who is the third and youngest son of former Dutch Queen Beatrix.
Prince Constantijn said he’s “really concerned” that Europe’s focus has been more on regulating AI than trying to become a leader in innovation.
“It’s good to have guardrails. We want to bring clarity to the market, predictability and all that. But it’s very hard to do that in such a fast-moving space,” he added.
“There are big risks in getting it wrong, and like we’ve seen in genetically modified organisms, it hasn’t stopped the development. It just stopped Europe developing it, and now we are consumers of the product, rather than producers able to influence the market as it develops,” he added.
According to Constantijn, Europe is making it “quite hard” for itself to innovate in AI due to “big restrictions on data.”