Eric Schmidt, former CEO of Google, criticized the EU's regulations on AI development, stating that they place European companies at a significant disadvantage. He suggested that restrictive regulatory frameworks limit innovation and potential growth in the AI sector. Schmidt highlighted that both the structure of the European markets and stringent regulations prevent the creation of large, competitive AI firms, making it unlikely for Europe to lead in AI advancements. In contrast, he noted the thriving and optimistic landscape for AI development in the US, where companies are heavily investing in the innovation space.
"The result of this is that the AI revolution, which is the most important revolution in my opinion since electricity, is not going to be invented in Europe, and that's to Europe's disservice."
"The system doesn't work, right? They can't build big enough companies. The markets are not integrated. Partly it's just the structure of Europe, but it's also that Brussels, in addition to promising uniform markets, also regulates in a particularly strong way."
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