Tech firms, including Meta and Spotify, on Thursday warned the European Union (EU) about the risks of overregulating the AI sector, which would likely stifle innovation. In an open letter that was also endorsed by Italian luxury fashion brand Prada,

A group of companies including Meta and Spotify blasted the European Union Thursday for its "fragmented and inconsistent" decision-making on data privacy and artificial intelligence (AI).

Thirty companies, including US giant Meta (Facebook, Instagram), as well as researchers and associations, are calling on the European Union to “clarify” its regulations on artificial intelligence, in their open letter made public today.

While the EU’s robust data privacy laws and new AI regulations are designed to protect consumers and ensure ethical practices, Big Tech argues that the current approach may stifle innovation and compe

The firms along with several researchers and industry bodies signed an open letter claiming that Europe was already becoming less competitive and risked falling further behind in the age of AI.