Meta Says It Won’t Sign EU’s AI Code, Says Bloc Is ‘Heading Down The Wrong Path’

Mark Zuckerberg-led Meta Platforms Inc. (META) on Friday said it will not sign the European Union’s code of practice for new laws governing the use of artificial intelligence, calling it an overreach.

Meta’s shares were up 0.11% during Friday’s pre-market trading session. Stocktwits data showed the retail sentiment around the stock was in the ‘bullish’ territory.

Meta’s Chief Global Affairs Officer, Joel Kaplan, said the EU’s overreach will throttle the development and deployment of AI in a post on LinkedIn.

“This code introduces a number of legal uncertainties for model developers, as well as measures which go far beyond the scope of the AI Act,” he said.

Meta’s stock is up 20% year-to-date and 47% in the past 12 months.

Kaplan said the EU AI code has been opposed by 44 of Europe’s largest businesses, including giants like Airbus, Bosch, Siemens, and BNP.

“We share concerns raised by these businesses that this overreach will throttle the development and deployment of frontier AI models in Europe, and stunt European companies looking to build businesses on top of them,” he added.

The EU AI code, released last week, established a set of voluntary rules on safety, security, transparency, and copyright. This was intended to make it easier for companies like OpenAI, Alphabet Inc.’s Google, and others to comply with the AI Act.

Companies signing up for the AI code are expected to be compliant with the AI Act, and in turn, they can expect more legal certainty. Companies that do not sign up, on the other hand, would be subject to more inspections. 

Meta’s stock is up 20% year-to-date and 47% in the past 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Trump Administration Reportedly Imposes 93.5% Tariff On Chinese Imports Of Graphite, A Key Battery Material

Share

·

Add us on