On Tuesday, the European Council approved the final text of the Artificial Intelligence (AI) Act, finalizing a regulatory framework meant to set a “global standard” for AI regulation. The AI Act takes a risk-based approach to AI regulation in principle, creating new regulatory requirements and hurdles for AI development rather than directly addressing harms like deep fakes or discriminatory outcomes. Much of the bill’s language is open to interpretation by regulators and courts, leaving its impact uncertain.

“Europe wants and needs to grow its own leading tech sector,” said Chamber of Progress Senior Director of Europe Kayvan Hazemi-Jebelli. “But the rush to be the first to pass sweeping AI regulations is another example of European policymakers tripping over themselves to be the first with regulation, without concern for how to best enable innovation.”

“The AI Act’s strict rules and somewhat ambiguous definitions addressing amorphous harms are likely to disincentivize tech development here in Europe. I hope that this law doesn’t end up depriving Europeans of the digital tools necessary to compete in the modern world.”

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Chamber of Progress (progresschamber.org) is a center-left tech industry policy coalition promoting technology’s progressive future.  We work to ensure that all Americans benefit from technological leaps, and that the tech industry operates responsibly and fairly.  

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