Pekka Ala-Pietilä, chair of the EU’s High-Level Expert Group on Artificial Intelligence, recently advised that in order to stay competitive in the market, Europeans should resist the urge to overregulate AI, Politico reports. By the end of 2018, the group is expected to draft two sets of guidelines: one to address ethical principles associated with AI and the other for how to boost investment in Europe. Pointing to economist and Nobel Prize–winner Robert Solow, who believed economic growth occurred within the framework of capital accumulation, labor growth and technological progress, Ala-Pietilä said the success of the European economy will depend on devising a regulatory AI framework that fosters innovation.
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