BusinessEurope Director General Markus J. Beyrer commented on the European Parliament Plenary vote on the AI Act, stating, "This is a pivotal moment for AI development in Europe, but successful implementation will be key to reassure investors, AI developers, and citizens that trustworthy AI is here to stay."
Beyrer further expressed that the AI Act maintains a risk-based framework and prevents the emergence of divergent national laws. However, he highlighted concerns about the need for extensive secondary legislation and guidelines, emphasizing their importance for legal certainty and interpretation in practice, which are crucial for investment decisions.
In pushing for excellence in AI, Beyrer stressed the importance of supporting innovative companies over bureaucratic hurdles, stating, "Europe must not only lead in rulemaking but also facilitate easier access to capital and financing for AI development."
Regarding the Commission's projections on AI investment in the EU, Beyrer noted, "It is also still to be seen how the Commission’s initial assumptions, such as AI Investment in the EU being between €30 and 65 billion by 2025, will compare to economic reality."
In conclusion, Beyrer highlighted that while the AI Act may have been 'adopted', the real work to ensure the success of AI development in Europe is just beginning.