US gov't analysis says EU AI Act could stifle R&D, competition: Report
An analysis carried out by the US government has raised concerns about the EU’s AI Act, warning that the legislation put forward by the bloc could end up curbing investment in the technology and favoring large AI companies at the expense of smaller rivals.
The analysis, carried by the State Department, also warned that the EU regulations are likely to dampen “the expected boost to productivity” expected from AI-based technology and potentially lead to “a migration of jobs and investment to other markets,” according to a report from Bloomberg.