Brussels Bets On Mega-Fund For AI

«If they could, the tech companies that have borne the costs of the General Data Protection Regulation (2018) would do away with the AI Act, which obliges them to explain their algorithms. 'Only the European Commission can decide whether to make adjustments to the AI Act, and these usually take years,' says Luís Neto Galvão, a lawyer at SRS Legal. And he admits that Mr Vance only wanted to assert the interests of American technology companies, but he doesn't rule out Brussels launching an implementing regulation to make adjustments to the AI Act. Implementing regulations are common, but in this case there may be an intention to make the AI Act focus more on innovation 'and not so much on obstacles'.»