European governments are uncomfortable with the concentration of power in the technology industry. They fear that European companies will become dependent on importing services and technology from the U.S., leading to a growing gap in culture and values. To address this, the EU has pushed for an “AI made in Europe” plan to compete with the U.S. and China. However, defining what “AI sovereignty” means has become unclear. Some view it as a way to fight back against big technology companies, while others see nothing wrong with big technology companies, as long as they are European.
The EU’s AI Act, which is expected to become law this summer, focuses on regulating potential harms and privacy concerns around AI. However, some member states, such as France, are concerned that this regulation could hinder their emerging AI companies. There is a push for European countries to innovate in AI before implementing regulations, and a commitment to making the EU a leader in “trustworthy” AI. Europe has some of the necessary elements to compete in AI, including data, computing power, and capital. However, they struggle to retain AI talent, and there is a wide gulf between U.S. and European private investment in AI companies. In response, the EU is investing in high-performance computing resources and offering startups access to supercomputers to help address these challenges.
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