EU must tap the potential of AI

Recently, the European Commission published its European data strategy that aims to create a single market for data, empower industrial and commercial use of data and embrace the technological change data oriented technologies bring to the society. The strategy also contains white paper on artificial intelligence that summarizes the EU’s approach to this topic. According to the Commission, the roll-out of artificial intelligence should be based on trust and excellence, give citizens the confidence to embrace new technologies and encourage businesses to develop them.

Just before the launch of the strategy, the Confederation of Industry of the Czech Republic organised a meeting of 19 trade organizations and artificial intelligence platforms from the CEE region to discuss the priorities for the possible regulation of this sector. The outcome of the meeting is a joint statement on artificial intelligence regulation that summarises the views of businesses. The signatories of the joint statement welcome the aim of the European Commission to create a united approach and set of core values when it comes to the development of artificial intelligence in the EU. It is a very dynamic sector and the EU can benefit greatly from its development as it shows great untapped potential.

Firstly, the trade organizations stress that a thorough dialogue between all stakeholders is necessary, including policymakers, AI professionals, businesses and civil society to encompass all the aspects of artificial intelligence. It is a sector that has a potential to change the way businesses and society work, therefore policymakers should aim for a broad adoption of artificial intelligence. Furthermore, policy obstacles that would jeopardise the roll-out of AI should be avoided. The digital sector is very dynamic and the fast pace of development doesn’t always correspond to the pace of policymaking.

Therefore, the EU should make use of the existing policy framework before creating new and complex legislation. Also, businesses would welcome guiding principles for self-regulation and co-regulation from the European Commission. Businesses are well aware of the opportunities that artificial intelligence creates for increasing the competitiveness of the EU and business representatives from the CEE region are ready to further engage in the dialogue.