The article discusses a group of European tech leaders and organizations appealing to EU decision-makers to revise the latest version of the Artificial Intelligence (AI) Act. They argue that the current legislation is too rigid and bureaucratic, and may hinder innovation in the field of AI.

Key Points:

• The group, which includes prominent figures from the European tech industry, is concerned that the current AI Act will stifle innovation and make it difficult for startups to compete with larger companies.
• They argue that a more proportionate and forward-looking approach is needed to ensure Europe remains competitive in the field of AI.
• The group suggests creating a regulatory body composed of experts at the EU level, which would be responsible for implementing and adapting regulations to the rapidly evolving tech landscape.
• They also emphasize the importance of building a transatlantic framework with the US ecosystem to create a level playing field.

Quotes:

• "We are convinced that our future significantly depends on Europe becoming part of the technological avant-garde, especially in such an important field as (generative) artificial intelligence." (From the joint appeal)
• "Wanting to anchor the regulation of generative AI in law and proceeding with a rigid compliance logic is as bureaucratic of an approach as it is ineffective in fulfilling its purpose." (From the joint appeal)

Context:

The European Union has been actively working on developing regulations for AI, aiming to ensure that these technologies are developed and deployed responsibly. The current version of the AI Act has faced criticism from various stakeholders, including startups, entrepreneurs, and industry experts.

This article highlights the concerns of a group of prominent European tech leaders who are urging EU decision-makers to revise the current legislation to make it more proportionate and forward-looking. They believe that this will enable Europe to remain competitive in the field of AI and foster innovation.