Policymakers will need to consider a number of key issues as they debate the European Commission’s proposed law to regulate artificial intelligence (AI). Most agree on the goal of strengthening European competitiveness in the global economy, but views diverge on how to achieve that without putting European businesses at a disadvantage. For example, some policymakers want to see requirements for algorithmic explainability and transparency, plus ex-ante risk assessments, while others are more willing to embrace soft-law solutions such as self-regulation. In reaching a consensus, lawmakers will need to decide how to strike the right balance between protecting consumers and encouraging innovation, how to avoid unintended consequences, and how to prevent a chilling effect on AI development and growth in Europe.
ITIF's Center for Data Innovation hosted an expert panel discussion about the EU’s AI legislation, including its feasibility, impact, and efficacy.