Meta, others warn E.U. of risks of missing out on benefits of AI, WSJ reports

A group of companies, including Meta (META), Spotify (SPOT), and Prada (PRDSY), have warned the European Union, E.U., about the risks of missing out on the full benefits of AI due to the bloc’s tech regulations, Kim Mackrael of The Wall Street Journal report. In an open letter coordinated by Meta, executives from over two dozen companies said AI can boost productivity and expand the economy, but Europe may reap fewer rewards. “Europe has become less competitive and less innovative compared to other regions and it now risks falling further behind in the AI era due to inconsistent regulatory decision making,” the letter said. Other companies who signed the letter include Ericsson (ERIC), SAP (SAP), and Thyssenkrupp.