EU Panel Discussion Yields Dismal Results

A panel discussion hosted by the European Union (EU) to discuss what should be done about machine learning regulation ended with a less than satisfactory outcome. Despite having a variety of participants from different backgrounds, the consensus was that the EU should strive to become a “regulatory leader” in this area. However, one entrepreneur present at the meeting was not in agreement with this plan and reportedly laughed out loud at the suggestion. The decision to pursue regulatory leadership has been met with criticism from many quarters. Critics point out that such an approach could lead to overregulation and stifle innovation in the industry. Furthermore, there is concern that it could create a situation where large tech companies are able to use their influence to shape regulations in their favor. This decision comes as something of a surprise given recent developments within the EU on data privacy issues. In 2018, the General Data Protection Regulation (GDPR) was introduced which aimed to protect citizens’ personal data and give them more control over how it is used by businesses and organizations. This legislation has been widely praised for its effectiveness and seen as an example of how regulation can be used effectively without stifling innovation or creating unfair advantages for certain companies. The outcome of this panel discussion highlights some of the difficulties faced by policy makers when attempting to regulate new technologies such as machine learning algorithms. The lack of consensus among experts shows just how complex these issues can be and raises questions about whether or not pursuing regulatory leadership is really the best way forward for Europe’s digital future.