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On July 3, Bloomberg reported that prominent European companies, including lithography giant ASML, SAP, and Mistral AI, have appealed to the European Union to suspend the enforcement of the AI Act. They express concerns that the act may impede the progress of artificial intelligence in Europe. In an open letter addressed to European Commission President Ursula von der Leyen, the CEOs of 44 leading European firms requested a two-year postponement of the act's implementation. They advocated for a regulatory approach that is more conducive to innovation. The AI Act is designed to curtail the misuse of AI, mandating developers to provide details on model training and establish compliance policies, with stiff penalties for non-compliance. Companies decry the absence of clear guidelines and standards, urging the postponement of two key sets of regulations.
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