OpenAI's AI chatbot, ChatGPT, released in November 2022, has sparked regulatory battles worldwide.
OpenAI's CEO, Sam Altman, expressed concerns to Brussels officials about the upcoming EU AI Act.
Altman warned about the potential impact of restrictive regulations on OpenAI's activities in Europe.
Sundar Pichai, CEO of Google, also engaged with European regulators to advocate for innovation-friendly AI regulations.
The EU AI Act aims to become a leading regulatory framework for AI technologies and is projected to be finalized next year.
Originally targeted at high-risk AI use cases, the legislation expanded to include regulations for "foundation models" like ChatGPT.
Companies will need to disclose summaries of copyrighted materials used to train AI, and AI technologies will be categorized based on risk.
Industry insiders acknowledge the need for some regulation but have voiced concerns about over-regulation.
Altman and other industry leaders testified before the U.S. Congress on government regulation of AI technology.