US Vice-President JD Vance criticises threat of ‘excessive regulation’ of artificial intelligence at Paris summit
US Vice President JD Vance speaks during a plenary session at the Artificial Intelligence Action Summit, at the Grand Palais, in Paris. Photograph: Ludovic Marin/Getty ImagesEuropean companies and governments have announced plans to pump hundreds of billions of euros into the development of artificial intelligence technology, in an attempt to catch up with the United States and China.
The funding will be on top of a further €150 billion in AI investment announced by a consortium of European companies and investors, whose members include Airbus, Spotify, French AI company Mistral, Philips and Siemens.Sports betting is spurring fund managers to roll the dice on stocksThe funding drive is an attempt to foster European industry, to produce AI technology to rival software developed by US tech giants, like OpenAI’s ChatGPT, or the new Chinese competitor DeepSeek.
“Too often I hear that Europe is late to the race, while the US and China have already gotten ahead. I disagree because the AI race is far from over,” she told the gathering of world leaders and tech executives. “We need international regulatory regimes that fosters the creation of AI technology rather than strangles it,” he said.
Mr Vance hit out at new EU regulations governing harmful and illegal online content, which he said US tech companies were “forced” to deal with. Strict data protection rules in Europe had also left smaller firms paying “endless legal compliance costs,” to avoid incurring significant fines, he said.
Jd-Vance Micheal-Martin Artificial-Intelligence
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