The Dialogue: Capital Meets Policy
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President of France said ‘we are regulating things that we have not yet produced or invented. It is not a good idea.’ CEO of CB Insights echoed the thought ‘The EU now has more AI regulations than meaningful AI companies.’
The questions:
- The risk of a larger non-EU-based partner using its market power to pull high-potential EU-based AI startups out of the EU. Mistral-Ai proves that risk. Germany’s Aleph Alphi and UK-based Synthesia and StabilityAI too.
- Voluntary flight of startups to non-EU locations including US, in search of capital, and more open to innovation policies. E.g., USA, Japan
- EU-based startups having to develop new code bases if they wish to sell outside of the EU, which means more time, cost, and risk
- Foundation models such as GPT-4 have been termed ‘systemic’. Has this aggressive categorization come too early?
- Need for greater transparency. To publish publicly available summaries of training data which might affect competitiveness and IP
- How does one go about educating citizens of how algorithmic harms happen if citizens have been given more agency to complain about AI systems.
Speakers:
- Hon. Caroline Pham, Commissioner, Commodity Futures Trading Commission
- Hans Koning, Global Chief Industry Specialist Digital Finance, World Bank Group
- Karmela Holtgreve, Director General Strategy & Innovation, Deutsche Bundesbank
- Stefan Klestil, General Partner, Speedinvest
- Hon. Sunil Sabharwal, President, Capitol Tunnels AI
Moderator:
- Dea Markova, Managing Director, Forefront Advisers