The third annual AI Action Summit wraps up today in Paris as global leaders and AI industry big-wigs chat about innovation over croissants and cafe au laits.
Driving the news: Conversations at this year’s summit have shifted from regulation to innovation as the U.S. chips away at AI safeguards and Europe looks to play catch-up. Before the summit, France announced plans to invest ~€109 billion in its AI industry.
- President Emmanuel Macron likened the investment to the U.S.’s "Stargate" plan, which will see the government pile ~US$500 billion into AI infrastructure.
Why it matters: The EU is the leader in AI rules, passing the world’s first comprehensive AI regulation, which has caused it to fall behind on AI advancements. If Europe takes a lighter touch on regulation to incite innovation, it would be a green light for others to do the same.
- The push to deregulate AI is part of a broader trend of slashing red tape as a means to drive growth. The approach has been adopted by the likes of India, Argentina, and the U.K.
In Canada: Meanwhile, Canada’s own proposed AI regulations look dead in the water ahead of the upcoming federal election. At the summit, Justin Trudeau focused on promoting nuclear energy to power AI and the need to ensure oligarchs don’t consolidate control over AI.—QH