European companies slam the EU’s incoming AI regulations in open letter

Some of the biggest companies in Europe have taken collective action to criticize the European Union’s recently approved artificial intelligence regulations, claiming that the Artificial Intelligence Act is ineffective and could negatively impact competition. In an open letter sent to the European Parliament, Commission, and member states on Friday, and first seen by the Financial Times, over 150 executives from companies like Renault, Heineken, Airbus, and Siemens slammed the AI Act for…