Business News Report
May 25, 2023

Can Europe Afford to Lose OpenAI? The Implications of Regulatory Struggles

Can Europe Afford to Lose OpenAI? The Implications of Regulatory Struggles

The European Union is reportedly developing the first set of rules that would govern artificial intelligence globally. Following this, organizations that work on AI applications, such as ChatGPT, would be required to disclose any copyrighted material that is used in the development of their systems.

Reuters has shared that the CEO of OpenAI, Sam Altman stated that the company might leave Europe because of that rule. According to Altman, the EU AI Act would be over-regulating AI companies. However, during a panel that took place in London on Wednesday, Altman stated that OpenAI would follow the rules before closing operations in Europe.

Sam Altman believes that there are many things that the European Union could do about the problem. For instance, it could change the definition of general-purpose AI systems. OpenAI CEO was disappointed that the current draft of the EU AI Act was not pulled back.

It’s worth noting that OpenAI’s ChatGPT has already been banned in Italy due to concerns over data privacy and the app’s availability to minors. On April 5, OpenAI CEO attended a videoconference meeting with commissioners from the Italian data protection agency. During the meeting, OpenAI said it was ready to collaborate with the regulators and would follow the laws securing Italian and European citizens’ data. Following this, on April 28, ChatGPT was available in Italy again.

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About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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