European Parliament member Eva Maydell describes key aspects of the proposed EU AI Act and explains why she strongly favors finding middle ground between regulation and freedom to innovate.
“The EU is lagging behind when it comes to innovation”, Maydell notes at the outset of her keynote. “We do have the brilliant researchers, the creativity, the talent – but we are often not the place where companies decide to scale up or to bring their products to a broader market.”
Europe’s single market offers access to 450 million customers, which is a great asset – but it suffers from regulatory and administrative barriers, Maydell argues. In addition, she believes, Europe’s culture has become in many ways too risk-averse.
“We as Europeans, in one way or another, are not hungry for the next big thing”, Maydell says. “We are not motivated enough to become leaders, to become the number one in a certain sector or in a certain endeavor. We do not always feel the global competition that is out there and sometimes can suffocate our economies.”
Maydell also emphasizes the need for Europe to make the most of technologies like AI “in the ongoing challenges between autocracies and democracies”.
“I’m a believer in the harnessing of the power of technology for positive change”, Maydell says, “while at the same time ensuring that innovation aligns harmoniously with our shared democratic values.”
