The Battle for AI Regulation: Europe's Do-or-Die Moment

Negotiations for the European Union's AI Act, which aims to establish comprehensive regulations for artificial intelligence, are facing a critical moment as negotiators grapple with the rise of generative AI. The EU's proposed regulations have been delayed by debates over how to govern general purpose AI systems like OpenAI's ChatGPT and Google's Bard chatbot. Big tech companies are concerned about overregulation stifling innovation, while European lawmakers seek added safeguards. The US, UK, China, and other global coalitions are also racing to establish AI regulations. The finalization of the AI Act before the European Parliament elections next year is uncertain, potentially delaying the establishment of global AI standards.