Earlier quoted context omitted.
The effect is going to be that all the innovation happens elsewhere, big AI companies will develop outside Europe. And Europeans will only get to benefit as consumers, not as makers of AI. And the EU will take that as a reason to regulate even harder and then also somehow end up giving a bunch of money to its telcos. EDIT: My point is that regulation doesn’t just prevent “bad products”. The compliance overhead also p…
Would you say the same things about FDA regulations? As a programmer who used to work on medical devices, these sound pretty similar like the FDA regulations we dealt with. The goal isn't to stifle innovation, it's to keep scammers and crooks out of the market and make things better for everyone. The EU doesn't want another Thalidomide, and the US shouldn't want another Theranos.
But please consider this:
How many people’s lives could have been saved if FDA regulations didn’t make medical approvals take 10 years? How many life-saving medications could have been invented if the cost of approval didn’t limit innovation to the biggest companies?