EU to Simplify Regulations: Boost to AI Investment

The European Commission plans to propose five legislative packages this year to encourage investment and streamline regulations, particularly in fields such as artificial intelligence, biotechnology, and clean energy. The aim is to reduce bureaucratic burdens and enhance the EU's global competitiveness.

The European Commission is set to introduce at least five legislative initiatives this year aimed at spurring investment and simplifying regulations across Europe, particularly in the areas of artificial intelligence, biotechnology, and affordable clean energy. These measures are part of a broader effort to enhance the bloc's global competitiveness.

European Commission Executive Vice-President Henna Virkkunen revealed that the upcoming legislation would tackle heavy administrative burdens and streamline processes to promote investment and innovation. The legislation aims to cut bureaucracy, making operations easier for companies by ensuring compliance with fewer acts.

One of the proposed legislative packages will address overlaps among the EU's artificial intelligence act, digital services act, digital marketing act, and the general data protection regulation. Additional packages will focus on regulations for sustainability, small companies, and agriculture.

(With inputs from agencies.)