[Column / Brussels Bytes] The EU cannot shape the future of AI with regulation

The European Commission recently announced plans to increase that funding, to make more data available for use in AI, and to work with EU member states on a strategy for deploying AI in the European economy. But at the same time, the EU's new General Data Protection Regulation (GDPR) puts tight restrictions on uses of AI that involve personal data, and EU policymakers continue to search for additional restrictions on AI to address their remaining fears. Unlike tobacco, AI has many beneficial uses, and the potential risks depend on how it is developed and used over the long-term. The irony is that if Europe over-regulates AI now, it will miss its chance for global influence over the technology's future. The commission does not see a contradiction because it believes that stringent regulation will engender consumer trust in AI. But that reasoning is flawed.