Germany's two biggest technology companies are unhappy with EU's AI regulations; call it 'Toxic' for ...
Siemens CEO
Roland Busch and
SAP CEO
Christian Klein slammed the EU's AI Act, which became law last year to ensure that AI systems are safe, transparent, and respect fundamental rights. The legislation categorizes AI applications by risk, imposing specific security and transparency requirements on providers. However, Busch argued that the Act is a significant factor in Europe's lag in AI development, compounded by overlapping and contradictory regulations.
"The EU's regulatory approach is holding back progress," Busch told the newspaper. He also described the EU's Data Act as "toxic" for digital business models.
Siemens and SAP mum on American companies letter to EU
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While companies like Google and Meta recently urged Brussels to delay the AI rules in a letter, Busch declined to support their letter, stating it did not address the core issues. Klein, meanwhile, cautioned against merely replicating U.S. strategies focused on heavy infrastructure investments. "Infrastructure shortages are not the main barrier in Europe," Klein said. "The real issue is unlocking the potential of our data.
"Busch echoed this sentiment, noting, "We are sitting on a treasure trove of data in Europe, but we are not yet able to tap into it. It's not access to computing capacity that we're lacking, but the release of resources." Both CEOs urged the EU to reform data regulations before prioritizing investments in data centers, emphasizing the need for a regulatory framework that fosters rather than hinders technological advancement.
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