Over 110 prominent European companies, including ASML, SAP, Airbus, and Mercedes-Benz, have jointly urged the European Union (EU) to postpone the implementation of the Artificial Intelligence Act (AI Act). They argue that the current strict regulations may undermine Europe's competitiveness in the rapidly evolving field of artificial intelligence. These companies propose a two-year delay in the act's enforcement and advocate for a regulatory approach that is more conducive to innovation. The AI Act, designed to mitigate the misuse of AI technology, mandates developers to disclose information on model training and adhere to copyright laws, with severe penalties for violators. However, businesses criticize the lack of clarity regarding relevant guidelines and standards, particularly highlighting the delay in issuing the Code of Conduct. Furthermore, the US government has also voiced concerns over the potential implications of the AI Act.