Walking the Tightrope: As Generative AI Meets EU Regulation, Pragmatism is Likely
![](https://www.pymnts.com/wp-content/uploads/2024/03/generative-ai-telecommunications-industry.jpg)
By: Paul Lee, Lucia Lucchini & Michelle Seng Ah Lee (Deloitte Insights)
Emphasizing the significance of well-defined regulations cannot be overstated in unlocking the potential of any market, especially in the realm of generative AI. Without clear regulatory frameworks, vendors, enterprise clients, and end users may exhibit hesitancy. However, the European Union (EU) is poised to take the lead in establishing global regulations for generative AI in 2024, not only shaping its domestic markets but also providing a model for other regions.
In 2024, two key EU regulations are anticipated to influence the growth of the generative AI market within the region and beyond. These are the General Data Protection Regulation (GDPR), which has been in effect since 2018, and the forthcoming EU AI Act (AIA), expected to be ratified in early 2024. As generative AI sparks discussions on managing issues such as individual consent, rectification, data erasure, bias mitigation, and copyright usage, the trajectory of the industry may hinge on how organizations and regulators perceive, enforce, and handle areas of contention.
Despite potential hurdles, collaborative efforts, manifested through open and transparent dialogues between industry stakeholders and regulators, are likely to yield a pragmatic approach. This approach would strike a balance between regulatory adherence and fostering innovation in generative AI. It follows the trend of discussions held in 2023, which saw regulatory interventions in the EU and other markets. Vendors have adapted their strategies to align with regulators’ requirements, while regulators have facilitated innovation. By addressing the concerns outlined in EU regulations in 2024 while championing the benefits of core technologies, the generative AI market is anticipated to continue its productive evolution.
Featured News
Nvidia and Microsoft Sued for Allegedly Undercutting AI Technology Patent Prices
Sep 5, 2024 by
CPI
White & Case Strengthens Antitrust and M&A Practices with New Partner Additions
Sep 5, 2024 by
CPI
Federal Judge Dismisses Antitrust Lawyers’ Fee Demand Over JetBlue-Spirit Deal
Sep 5, 2024 by
CPI
Boston Landlords Named as US Sues RealPage Over Alleged Rent-Inflating Practices
Sep 5, 2024 by
CPI
Judge to Weigh Landmark NCAA Settlement Proposal in Antitrust Lawsuit
Sep 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI