"Siemens CEO Roland Busch stated that the European approach to AI regulations does not adequately distinguish between industrial and consumer applications, leading to unnecessary bureaucratic burdens. He emphasized that treating data from machines the same as personal data complicates investment justifications for shareholders."
"Busch highlighted that the regulatory burden within the EU is a decisive factor in Siemens' decision to potentially shift AI investments outside Europe, particularly to the United States and China, where innovation can occur more rapidly."
Siemens CEO Roland Busch cautions that current European AI regulations could deter investments, leading the company to allocate AI spending outside Europe. He criticizes the EU's failure to differentiate between industrial and consumer AI applications, resulting in unnecessary bureaucratic burdens. Siemens has earmarked around one billion euros for industrial AI, but much of it may be spent outside Europe due to regulatory challenges. The industry has expressed concerns over the complexity of EU AI legislation, fearing it may stifle innovation compared to other regions.
Read at Techzine Global
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