Over 150 top execs fear Europe will create a ‘critical productivity gap’ with the U.S. if the EU overregulates A.I.

(Credit: Nathan Laine—Bloomberg/Getty Images)

European business leaders are worried that the EU will overregulate A.I. and leave Europe trailing the U.S. in future productivity. A group of over 150 executives including the CEOs of Renault and Siemens, the executive director of Heineken, and the chief A.I. scientist at Meta, signed an open letter to the European Parliament on Friday, requesting that it pull back from its proposed restrictions.

“Such regulation could lead to highly innovative companies moving their activities abroad, investors withdrawing their capital from the development of European foundation models and European A.I. in general,” the letter read. “The result would be a critical productivity gap between the two sides of the Atlantic.”