Facebook parent Meta, Spotify, Ericsson and other tech giants to EU: “Europe now risks falling further behind in…”

Facebook's parent company Meta, along with other prominent tech players like Spotify and Ericsson, have issued a cautionary message to the European Union (EU). They have said that the EU's current technology regulations may hinder the region from fully reaping the potential advantages of artificial intelligence (AI).
The Wall Street Journal reports that in an open letter, executives from more than two dozen companies said AI can boost productivity and expand the economy but Europe might reap fewer rewards than other countries.
“Europe has become less competitive and less innovative compared to other regions and it now risks falling further behind in the AI era due to inconsistent regulatory decision making,” the letter said, which included signatories from representatives from German software company SAP and German industrial group Thyssenkrupp, along with researchers and civil-society and trade groups.

As per the report, the European Commission – EU’s executive body – said that it is working to support AI innovation, adding that the EU’s incoming justice commissioner is expected to make sure that the bloc’s data protection law responds to both law enforcement and commercial needs.

The letter comes soon after Meta and Apple announced that the AI features on their platforms and devices will not be available in Europe because of the bloc’s regulations.
Recently, Apple said that its new AI system, called Apple Intelligence, will not be available for European iPhone users this year because of what it said were uncertainties caused by a new digital-competition law.
Meanwhile, Meta said in July that it will not release a future multimodal AI model in the EU in the near term because of “the unpredictable nature of the European regulatory environment.”