Top European companies urge European Commission to halt AI Act

Nearly 50 European enterprises called on the European Commission on Thursday to halt an artificial intelligence (AI) act, warning that unclear and overlapping regulations are threatening the EU's competitiveness in the global AI race, the Financial Times has reported.

In an open letter, heads of 44 large European companies urged European Commission President Ursula von der Leyen to introduce a two-year pause, and called on the authorities to adopt a more "innovation-friendly" regulatory approach.

The letter from CEOs was organized by the EU AI Champions Initiative, a body representing 110 companies across the continent's industries, with signatory companies including Airbus, ASML, Mercedes-Benz, and numerous other local European AI companies.

The letter said that the EU's complex rules put "Europe's AI ambitions at risk, as it jeopardizes not only the development of European champions, but also the ability of all industries to deploy AI at the scale required by global competition."

The act entered into force in August of last year, marking the world's first comprehensive regulation on AI.