00:00The race for AI dominance is well underway, and the European Union is seeking to both
00:06compete and define the rules of the game. A part of the EU's landmark AI Act is now
00:12in effect. Applications deemed to pose an unacceptable risk are now prohibited. For
00:18software developer Sigley, the landmark legislation can provide a helpful framework as the technology
00:25continues to develop. I believe that that can birth a lot of interesting companies that
00:32are focused on solving real challenges. But will they become as big, as profitable, as
00:41ginormous as the US? Probably not. European Commission President Ursula von der Leyen
00:48says the bloc is lagging behind when it comes to innovation and investment, and is looking
00:53to play catch-up. To help bridge the gap, the EU's planned to spend over $1.5 billion
01:00on supercomputers, aimed at helping European start-ups train their AI models. The hope
01:07is that the AI summit in Paris will help showcase Europe's AI credentials. It shows that on
01:15the one hand, the EU is determined to promote AI and to support European players on the
01:24AI sector, and at the same time to ensure that we have an AI which is human-centric.
01:31Rules for general purpose AI models come into effect in August, with the AI Act set to fully
01:37take effect the following year. While much could depend on how the rules are implemented,
01:42Commissioners hope that developers in Europe won't be put off by the fear of red tape.
01:47There's certainly lots of things to do in terms of making AI more useful, I think. And
01:53maybe that's the next goal, rather than just making it faster, stronger, and more and more
01:56compute behind it. Maybe the next goal is to make it useful and actually deploy it in
02:01sensible ways. Commission officials say they want Europe to
02:05become an AI continent. While some US tech giants say regulation is a step in the wrong
02:10direction, the EU is hopeful that it's on the right path.
02:14William Denslow, CGTN, Brussels.
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