A European Digital Minister, Volker Wissing, has expressed concerns that the continent is falling behind in the development of artificial intelligence (AI) following the US government’s multi-billion-dollar AI initiative. According to Wissing, the European Union must take action to avoid being left behind, citing the need for less regulation and a more innovative mindset, particularly in the context of disruptive technologies like AI.
Furthermore, Wissing emphasized the importance of improving the availability of high-risk capital, stating that concrete steps include creating incentives for investments and modifying the competition law to allow large companies to develop. He also called for a “unified, streamlined legal enforcement in the digital sector with clear rules and clear competencies.”
Wissing believes that a hallmark of Germany and the European Union can be the development of trustworthy AI, where the data of citizens and businesses are secure. He argues that this reliability is a characteristic of the region’s standing and contributes to its international competitiveness.