Meta and Google Executives Criticize EU's AI Regulations, Citing Innovation Concerns

Meta and Google Execs Criticize Europe's Strict AI Rules. 'Sometimes It Goes Too Far', Says Meta Exec - Alphabet (NASDAQ:GOOG), Apple (NASDAQ:AAPL)

Mark Zuckerberg's Meta Platforms META and Google GOOGL GOOG have voiced their concerns over Europe's stringent artificial intelligence (AI) regulations, arguing that these rules are hampering the growth of the region's tech industry. What Happened: The public policy chiefs of these tech giants expressed their concerns at the Techarena tech conference in Stockholm, Sweden, reported CNBC. They contended that Europe's rigorous approach to regulating technologies like AI and machine learning is suppressing innovation. Meta's director of public policy, Chris Yiu stated that the European regulation around technology is sometimes too fragmented or goes too far, resulting in product delays or watered-down versions. "I think there is now broad consensus that European regulation around technology has its issues, and sometimes it's too fragmented, like GDPR [General Data Protection Regulation], sometimes it goes too far, like the AI Act." He mentioned Meta's recently released Ray-Ban smart glasses as an example, highlighting their AI-powered ability to translate speech or describe images for individuals with visual impairments. The product's launch in Europe was delayed due to regulatory issues. Google DeepMind's head of public policy, Dorothy Chou also echoed Yiu's sentiments, She pointed out that the AI Act was created before some technologies even existed and emphasized that policy should foster a better investment environment rather than hinder technological advancement. SEE ALSO: Trump's Executive Order On Corruption: What It Means For U.S. Companies Why It Matters: These criticisms come amidst growing concerns from Big Tech firms about the EU's approach to tech regulation. Google and Meta have intensified their lobbying efforts to influence and ease certain aspects of the AI Act. In January, Google contested a record EU antitrust fine over its Android operating system, arguing that users preferred its services. In February, Meta announced its plans not to comply with the EU AI Code of Practice. Meta also hinted that it will turn to President Donald Trump if the EU doesn't relent. However, EU antitrust chief Teresa Ribera refused to change her stance and told Reuters on Tuesday that the team will make key decisions regarding Meta and Apple AAPL, based on evidence, as scheduled in March. Since March last year, both the tech giants have been under the EU's scrutiny and could incur substantial fines of up to 10% of their global annual revenue if found in violation of the Digital Markets Act. Despite the EU drawing a lot of criticism from the Trump Administration, Ribera said, "We need to be flexible but we cannot transact on human rights nor are we going to transact on the unity of Europe, and we are not going to transact on democracy and values." READ MORE: Dogecoin's Journey From Memecoin To 'Real' Money 'Crazy But Cool,' Says Elon Musk: 'I Am Living The Meme' AAPLApple Inc$245.83-%OverviewGOOGAlphabet Inc$187.170.28%GOOGLAlphabet Inc$185.100.29%METAMeta Platforms Inc$699.750.71%Market News and Data brought to you by Benzinga APIs

Google, Meta execs blast Europe over strict AI regulation as Big Tech ups the ante

STOCKHOLM -- Executives at U.S. tech giants Google and Meta said that Europe's artificial intelligence industry is being held back by excessive regulation, adding to rhetoric from Donald Trump's administration that the region's strict tech rules are choking innovation. Speaking at the Techarena tech conference in Stockholm, Sweden, public policy chiefs at both Google and Meta used the stage as a platform to voice their concerns about the bloc's strict approach to regulating technologies such as AI and machine learning. "I think there is now broad consensus that European regulation around technology has its issues, and sometimes it's too fragmented, like GDPR [General Data Protection Regulation], sometimes it goes too far, like the AI Act," Chris Yiu, Meta's director of public policy, told an audience of tech founders and investors at Techarena on Thursday. "But the net result of all of that is that products get delayed or get watered down and European citizens and consumers suffer," he said. Yiu pulled out a pair of Meta's recently launched Ray-Ban branded glasses, which use AI to translate speech from one language to another or describe images for the visually impaired. "This is a profound and very human application of the technology, and it is slow to arrive in Europe because of the issues that we have around regulation," Yiu said. Meta only began rolling out AI features for its Ray-Ban Meta glasses in some European countries in November, after a delay the firm claimed was caused by the need to reach compliance with Europe's "complex regulatory system."