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

Foo Yun Chee - Reuters - 23/11
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.
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BRUSSELS, Nov 23 (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 (AIR.PA), Apple (AAPL.O), Ericsson (ERICb.ST), Google (GOOGL.O), LSE (LSEG.L) and SAP (SAPG.DE), said in a letter.

"As European digital industry representatives, we see a huge opportunity in foundation models, and new innovative player...
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