10 EU tech firms urge EU to harmonize AI regulations to prevent a GDP decline of up to 10%.

An open letter from major tech firms, including Meta and Spotify, warns the EU of economic decline due to inconsistent AI regulations. The companies argue that Europe's fragmented decision-making jeopardizes its competitiveness and risks a GDP loss of up to 10%. The letter calls for harmonized and clear data privacy rules to allow effective AI training, highlighting recent GDPR decisions that have created regulatory uncertainty, causing delays in product launches.

September 18, 2024
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