Europe is leading the global race to regulate artificial intelligence (AI) technology. In April 2021, the European Commission proposed the Artificial Intelligence Act, which would be the world’s first comprehensive AI regulatory framework.
Europe’s Strong Data Protection Tradition: Europe has a robust tradition of data protection and privacy, exemplified by the strict General Data Protection Regulation (GDPR). This emphasis on safeguarding personal information has positioned Europe as a leader in developing ethical AI standards.
Concerns About AI Risks: European policymakers express genuine concerns regarding the potential risks associated with AI, such as bias, discrimination, and job displacement. They are also vigilant about preventing malicious uses of AI, such as surveillance and cyberattacks.
Robust Regulatory Framework: The European Union possesses a comprehensive regulatory framework that effectively addresses AI regulation. This framework encompasses laws pertaining to data protection, privacy, and competition, providing a solid foundation for overseeing AI technologies.
Strong Industrial Base: Europe is home to several prominent AI companies, including SAP, Siemens, and Amadeus. These industry leaders have a vested interest in ensuring fair and competitive regulation of AI, further strengthening Europe’s position in shaping AI governance.
Overall, Europe’s leadership in the global race to regulate AI technology is attributable to its strong data protection traditions, concerns about AI risks, a robust regulatory framework, and a thriving industrial base.
