Economists on both sides of the
Atlantic are uncertain about the potential impact of European
legislation regulating artificial intelligence (AI) on the tech
sector in the EU.
According to a survey carried out by the Kent A. Clark Center
for Global Markets of the University of Chicago Booth School of
Business, only 2% of those polled said they strongly agreed with
the fact that the European legislation could substantially put
European tech companies at a disadvantage compared to their
competitors, while 16% said they disagreed with this forecast.
Uncertainty however prevailed, with 31% of those interviewed
saying they were undecided about the impact which the AI Act
could have on the European tech sector and 35% failing to
provide an answer.
Economist Olivier Blanchard of the Peterson Institute for
International Economics, for instance, stressed how "the
complexity of tasks necessary to satisfy the regulation", a huge
framework of rules on artificial intelligence, could lead some
companies to "move out of the EU".
On the other hand, Jan Eeckhout, a professor at Barcelona's
Universitat Pompeu Fabra (UPF) said the so-called 'Brussels
effect' could instead push tech companies to "adopt the EU's
regulation at a global level".
Experts also had a more positive opinion on the impact the AI
Act could have on research and innovation.
A reported 24% of those polled said they believe the European
legislation could strengthen research and innovation, while 6%
disagreed with such a forecast and 2% strongly disagreed.
About 22% were undecided while the percentage of those who
didn't respond remained unvaried, the poll found.
Among sceptics, British economist Franklin Allen of Imperial
College London said it is "very difficult to write a clear
ensemble of rules for something as new and dynamic as AI".
Chicago Booth professor Christian Leuz, instead, thought the new
system of rules on AI "limits some developments and innovations,
which can be adequate depending on externalities and risks".
ALL RIGHTS RESERVED © Copyright ANSA
