How Europe Can Make the Most of AI

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Publication Date September 2023
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Although consumers were already enjoying many uses of AI in 2023, its development was just beginning. Given the US, rather than the EU, was at the technological frontier, the EU’s AI strategy – focussing on ensuring European businesses exploit the technology – was a sound way to improve Europe’s productivity and economic growth. This would require competition authorities to scrutinise the market carefully to avoid one or two providers of AI foundation models becoming dominant (though reasons to fear this outcome are limited at the moment). It would also require policy-makers to undertake a broad review of how AI could comply with existing regulatory regimes, to give European businesses more certainty and nudge them to move ahead with adoption. With some adjustments, the proposal for an EU AI Act could be a useful step towards a consistent EU-wide approach, but a much more expansive review of existing laws was needed.

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European Commission : COM (2021) 205 : Communication on Fostering a European approach to Artificial Intelligence
European Commission: COM (2020) 65: White Paper on Artificial Intelligence – A European approach to excellence and trust

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