Philips CEO Warns EU Not to Block AI Innovation With Regulation

Royal Philips NV urged the European Union not to create regulatory hurdles that might slow progress in artificial intelligence, amid growing concern about the continent’s absence in the race to develop the technology.

“We must be careful not to create unintended regulatory consequences that slows innovation in Europe during the global AI revolution,” Philips Chief Executive Officer Roy Jakobs said at the ICT & Health World Conference in Maastricht on Tuesday. “To some, even many, Europe risks falling behind, at a time when we need to be strong and decisive, and much more competitive.”