The Dutch prince Constantijn of the Netherlands has said that Europe risks falling behind if it “continues to focus on AI regulation.” Will it affect the economics of the EU and UK?
Falling Behind With AI?
Prince Constantijn of the Netherlands said that Europe could “risk falling behind” if it focused too much on AI regulation. The prince also added that China and the US are moving swiftly ahead.
Need to Become the Leader
The Dutch prince has voiced his concerns that the EU should focus on becoming the leader in AI rather than making regulations a top priority.
The EU AI Act
The EU AI Act (Artificial Intelligence Act) serves as a group of basic guidelines and regulations for using AI. One of the leading focuses of the Act includes privacy, bias, and misinformation.
Regulations and Balance for All
The Act was designed to implement regulations that meet balance across all applications and continued development of AI in the EU.
Ai-Use Goals for Europe
The European Parliament says its priorities for all European AI systems must comply with “safety, transparency, non-descrimination, it must be traceable, and environmentaly friendly.”
Transparency
According to the European Parliament, the transparency requirements include disclosing AI-generated content. The parliament also noted that the module design of AI software and related hardware must be made so that it cannot generate illegal content. Transparency should also include acknowledging the copyrighted data previously used to train the AI used.
Disclose the Use of Deepfake
Transparency regulations not only aim to eliminate illegal actions but also prevent unlawful use of deepfake. Disclosure of deepfake through images and videos must show that it’s AI-generated.
Innovation
The European Parliament’s support for innovation includes allowing small startups like Techleap and others to train AI and conduct modules before public use. Innovation support also includes creating testing environments for AI that simulate the “real” world and scenarios.
What Does the Act Include?
According to the European Parliament, various contingencies must be in place to mitigate various AI risk levels. The following are some of the risks that AI regulation is focused on.
Unacceptable Risks
Unacceptable AI risks pose problems; if so, these AI technologies or programs will be banned. Unacceptable bans include Biometric identification and categorisation of people, Cognitive behavioural manipulation, and social scoring.
High Risks
According to the EU AI Act, high risks will include safety and fundamental rights risks. The European Parliament mentions product safety for kids’ toys, medical devices, cars, and aviation.
Time to Readjust
According to EU, at least 15% will be categorised as “high risk,” and periodic restrictions will be implemented, which will give manufacturers time to comply.
The House of Lords
The Verdict.co.uk reported the announcement of the House of Lords Communications and Digital Committee. It had announced that the UK might risk “missing out on the social and economic benefits of AI” as a result of its “narrow view surrounding AI safety.”
EU AI Company
The Dutch startup company specialising in AI and new technology, called Techleap, helps expand the reach of local Dutch tech companies across the world. According to MT Sprout, Prince Constantijn supports the company and sits at the helm.
Dutch Companies and the Rest of EU
Techleap and other Dutch companies now have an easier way to start up because of leaders like Neelie Kroes, a former Dutch politician and the Dutch prince.
He’s a “Go-Getter”
The CEO of Helloprint describes the prince as a “go-getter” who has a clear goal and works towards it. The CEO also said that the prince was not afraid to give his opinion.
Private and Public Ties
Techleap works with private and public-facing companies. According to Verdict.co.uk, the company works alongside the Netherlands Ministries of Economic Affairs and Education, Culture and Science. They also work with various other industry leaders.
Not Leading “Risks Losing Out”
The Dutch prince said he was “very concerned” that Europe would risk losing out.
Europe’s Tech Goals
The tech goal for Europe is to use the technology’s advances but also regulate it to provide innovative and beneficial use for everyone.
Market Dominance Fears
Baroness Stowell of Beeston, and Chair of the House of Lords Communication and Digital Community, said, “…the inception of the internet is in danger of market dominance by a ‘small group of companies’...” she said.
Featured Image Credit: Shutterstock / Alexandros Michailidis.