Siemens and SAP have voiced concerns over the EU's AI regulations, suggesting revisions are needed to foster innovation. The CEOs of both companies argue that the current AI Act and Data Act hinder technological advancement and place European firms at a competitive disadvantage. They advocate for a more agile regulatory approach that encourages innovation while ensuring safety and transparency.
The EU AI Act, adopted in 2023, classifies AI systems based on risk, imposing varying levels of data usage, transparency, and safety rules. Siemens CEO Roland Busch criticised the Act for contributing to Europe's lag in AI development, citing overlapping regulations as a key obstacle. He also labelled the EU's Data Act as detrimental to creating modern digital business models.
While acknowledging the importance of AI safety and ethical considerations, the CEOs stress the need for regulatory reform before significant investment in infrastructure like data centres. They suggest that Europe possesses a wealth of data that remains untapped due to restrictive regulations. The focus should be on releasing these resources rather than solely addressing computing capacity.
