In an op-ed for The Parliament, Varg Folkman, a policy analyst at the European Policy Centre, discusses the need for a balanced approach to regulating artificial intelligence (AI) within the EU. Folkman stresses the importance of enforcing competition rules to prevent dominance by American tech companies while advocating for the removal of regulatory obstacles that hinder domestic innovation. The article examines the history of American tech giants' acquisitions over the past decade and their current dominance. He goes on to highlight concerns about these companies' plans to seek a dominant position in Europe's AI sector. The article also talks about the need to foster promising European AI companies and address the challenges they face in scaling up due to regulatory and investment barriers. Furthermore, Folkman calls for reducing regulatory burdens and expanding capital markets to support the growth of startups in Europe's AI industry.
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