Big Tech warns Europe’s new AI law could stifle innovation

Amazon and Meta executives expressed concerns to CNN this week, suggesting that some fears surrounding artificial intelligence (AI) are exaggerated and that the European Union’s new AI regulations could hinder innovation.

This week, the EU finalized its AI act, coinciding with the annual VivaTech conference in Paris, where tech leaders gathered.

The groundbreaking law aims to change how AI is utilized across various sectors in Europe, from healthcare to law enforcement. It includes outright bans on “unacceptable” uses of AI, such as social scoring, and introduces new disclosure requirements for major AI companies, particularly for high-risk applications like education and hiring.

Yann LeCun, Meta’s AI chief, questioned whether AI research and development should be regulated. “There are clauses in the EU AI act and various other places that do regulate research and development. I don’t think it’s a good idea,” he told CNN’s Anna Stewart at the Paris event.

LeCun, known as one of the “godfathers of AI,” dismissed the notion that AI will soon surpass human intelligence. “I don’t believe it’s anywhere close,” he said. “I don’t think it’s that dangerous, frankly, certainly not today.” He added that future, more intelligent AI systems would be designed with appropriate safeguards.

Comparing the current state of AI to early aviation, LeCun said, “Trying to figure out how to make future super-intelligent AI systems safe is like asking in 1925 ‘how do we make jet transport safe?’ And jet transport was not invented yet.”

Amazon’s chief technology officer Werner Vogels shared concerns that AI regulation might stifle innovation in certain areas. He emphasized that regulators should differentiate between the risks associated with AI applications in critical sectors like healthcare and finance, and those in less impactful areas, such as summarizing meetings.

“There’s a whole range of areas where I think the risks are minimal and we should let innovation run there,” Vogels said. For areas with higher stakes, risks should be managed specifically for those sectors.

Vogels acknowledged that Amazon supports regulation and aligns with the regulators’ goals but cautioned against excessive regulation. He referenced the EU’s General Data Protection Regulation (GDPR) as an example, describing it as a very “thick” book.

“Let’s make sure that the regulatory requirements we put in place can be implemented by all companies, not just the largest ones,” he said. Vogels stressed the importance of fostering innovation within Europe, noting the continent’s history of underinvestment in research and development.