Airbus, ASML, Mercedes-Benz Group, and other major corporations in Europe requested on the 3rd (local time) that the European Union (EU) postpone the implementation of the comprehensive artificial intelligence (AI) regulatory law.
According to the Financial Times (FT) and Bloomberg, over 110 corporations and organizations in Europe requested a postponement of the AI law and a more 'innovation-friendly' regulatory approach in an open letter sent to Ursula von der Leyen, the President of the European Commission.
The letter was signed by leading European corporations including BNP Paribas, Deutsche Bank, Mistral, Lufthansa, Siemens, L'Oreal, Sanofi, Spotify, AXA, EDF, and Loft. Their combined market capitalization reaches $3 trillion (approximately 4,080 trillion won) and they create 3.7 million jobs across Europe.
In the letter, the corporations requested a two-year grace period for the regulations regarding general-purpose AI models effective next month and the regulations concerning high-risk AI systems that will take effect in August next year.
They expressed concerns that the EU's regulations are unclear, redundant, and increasingly complex, which could hinder the technological development and global competitiveness of corporations.
The EU's AI law is the world's first comprehensive AI regulation, presenting unified rules for products utilizing AI technology to enter the EU market. It was enacted last August and is currently being implemented in phases, with complete enforcement set for August next year.
Meanwhile, the EU has faced criticism and pressure from the U.S. government, big tech companies, and the European business sector, stating that the AI law represents excessive regulation.