Dozens of CEOs are calling on the European Commission to suspend EU AI law. Several restrictions were set to take effect in August, but now there is a driving force to stop them. There is a good chance that this could happen.
In the open letter, the CEO calls for a two-year “clock halt” (essentially a pause) to resolve potential legal issues. To stand in the battle for AI, leaders of European tech companies want to ensure that “unclear, overlapping, and increasingly complex EU regulations” get out of the way. We use the hashtag #StopTheClock to spread our message across all kinds of digital domains.
From technology to textiles
The appeal of CEOs comes from a variety of quarters. High-tech players such as ASML and Mistral, aircraft manufacturer Airbus, Siemens Energy and supermarket chain Carrefour are all on the list. Smaller AI players such as voice specialists ElevenLabs and Biotech Startup Cradle will be added.
Finland’s European Commissioner Henna Wilkunen said it will decide whether the AI Act should be postponed. If some standards and guidelines are not ready, she is temporarily ready to put aside some of the law. So there is certainly a chance that a call will be heard in Brussels. The CEO’s chorus is already backed by North America. Both Washington and the leading US engineers have been debating for years the free interpretation of AI laws that allow for the greatest possible innovation and room for maneuvering.
Extremely
The desire to not fulfill the most innovative AI innovation possible in 2023. The most obvious example was the adoption of the EU AI law in question. But we should immediately remember another open letter that suggests the exact opposite of today’s CEO’s message. In March 2023, a group of well-known names requested a six-month hiatus to build AI systems that are more advanced than ChatGpt at the time. At the time, the most powerful model was the GPT-4, far less capable than today’s GPT-4O, not more powerful than the O1, and now the Openai O3, not to mention competition.
Despite the fact that Elon Musk and Apple co-founder Steve Wozniak supported the call, it didn’t listen. The rest is history: genai has evolved from a somewhat formless hype to a more concrete image and “inference” model of AI agents. Nevertheless, there is a strong sense of imperfection. The AI ”killer app” that surpasses ChatGpt has not yet arrived. European CEOs don’t want to limit this search. This provides highly understandable motivations that could have positive outcomes in Europe as well.
In fact, EU AI law is separate from the goodwill behind it. Think about copyright protection, risky implementation restrictions, and transparency requirements. These issues are currently underregulated within AI development. It’s not that the current rules are restrictive or liberal, or simply outdated. The EU AI law was supposed to resolve this, but ironically, it has become obsolete in itself due to outdated terms and restrictive attitudes.
Also Read: High-tech Sector Calls the EU to Suspend AI ACT
