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Věra Jourová, the European Commission’s vice-president for values and transparency, has cautioned against excessive regulation of generative artificial intelligence. In an interview with The Financial Times, she emphasized that the European Union’s new AI rules shouldn’t arise from “dystopian” fears, as this could curb innovation.

Jourová, a key figure behind the EU’s AI law, told the FT, “There should not be paranoia in assessing the risks of AI. It always has to be a solid analysis of the possible risks.” She further added that technologies should be labeled as high-risk based on evidence, not mere speculation.

The EU is actively shaping AI rules, while countries like the U.S. and China craft their own. Interestingly, the U.K. plans a global AI summit next month.

Balancing innovation and regulation

As the EU finalizes its AI act, concerns about AI misuse grow. Businesses and some European parliament members worry about AI’s potential to create deep fakes or breach copyright laws.

The European parliament suggests holding foundation model creators, such as those behind ChatGPT, accountable. These developers might have to reveal AI-generated content and summarize copyrighted data they use.

Brando Benifei, a parliament negotiator, feels a mere principles-based approach falls short. However, trade bodies like the U.S.-based Computer and Communications Industry Association warn against stifling innovation with tight rules.

Jourová plans to champion the EU’s AI model at a G7 AI forum in Kyoto. She sees the EU’s stance as setting global standards, especially compared to China, a country she views with mistrust.

Lastly, Jose Fernandez — the U.S. under-secretary for economic growth, energy, and the environment — highlights AI’s potential pitfalls and benefits. He underscores the need for U.S.-EU collaboration to harness AI’s positive power.

Maxwell William

Maxwell William, a seasoned crypto journalist and content strategist, has notably contributed to industry-leading platforms such as Cointelegraph, OKX Insights, and Decrypt, weaving complex crypto narratives into insightful articles that resonate with a broad readership.

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