| “This is a pivotal moment for AI development in Europe, but successful implementation will be key to reassure investors, AI developers and citizens that trustworthy AI is here to stay” – underlined BusinessEurope Director General Markus J. Beyrer. He continued, “The AI Act rightly maintains a risk-based framework and prevents the emergence of divergent national laws. However, the need for extensive secondary legislation and guidelines raises significant questions about legal certainty and law’s interpretation in practice, which are crucial for investment decisions.” He further emphasised that for Europe to |
| truly excel in AI, it must support companies that innovate and not just navigate bureaucracy because they can afford it. Europe must not only take the lead in establishing regulations but also facilitate easier access to capital and financing for AI development. It is also still to be seen how the Commission’s initial assumptions, such as AI investment in the EU being between €30 and 65 billion by 2025, will compare to economic reality. He concluded: “The AI Act may be ‘adopted’, but much of the real work to ensure the success of AI development in Europe is only beginning.” |
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