Europe does not want to be left behind when it comes to artificial intelligence. At a meeting, the German Economics Minister and his counterparts from France and Italy spoke out in favor of reducing bureaucracy.
Germany, France and Italy want to work more closely together on the topic of artificial intelligence (AI) so that Europe can better keep up with the competition from the USA and China. At the same time, the economics ministers of the three largest EU economies, Robert Habeck, Bruno Le Maire and Adolfo Urso, warned in Rome against excessive regulation of AI within the European Union. The Green Party politician Habeck said that in view of international competition we had to “strategically coordinate”.
Germany, France and Italy belong to the G7 group of the world’s strongest industrial nations. Italy will take over the presidency there for one year at the beginning of 2024. The three ministers had already met in Berlin in June to discuss the procurement of critical raw materials. The next such meeting is scheduled to take place in Paris early next year. Then it should primarily be about green technologies.
The ministers consistently emphasized that Europe can keep pace on the international level when it comes to AI. Habeck said: “We don’t have to hide. We have companies that are better in many areas than the US tech giants.” At the same time, he called for faster decisions at the European level. “If the wait takes three and a half years, we no longer have a chance,” said the Green Vice Chancellor. “Otherwise we will end up regulating a market that no longer exists.”
The French Economics Minister Le Maire also warned against excessive regulation and bureaucracy. “Before we think about regulation, we have to think about innovation and financing. It is the innovation that makes the regulation.” At stake is Europe’s place in the 21st century.
Le Maire pointed out that ten times as much money is currently being invested in AI in the USA as in Europe. In this context, Habeck spoke of “risk aversion” in Europe. There is enough capital and enough efficient companies, but they often don’t yet come together. All three ministers advocated using the respective state development banks.
Source: Stern
