“For a Remainer like myself, it’s painful to admit — but when it comes to AI regulations, it’s far better we chose to 'take back control' ”. "Sadly, in the face of overwhelming evidence that their top-down approach" (to digital and AI regulation) has failed, EU leaders haven’t tried a different tack, such as market-oriented reforms to reduce barriers for digital businesses. Instead in 2022, Brussels introduced the draconian Digital Market Act, which has clobbered tech companies with fines worth tens of billions of euros. But the pièce de résistance is the EU’s AI Act, hastily drafted and passed this year in response to the public debate sparked by the launch of ChatGPT. Breathlessly heralded by European leaders as “the world’s first AI legislation”, it’s genuinely hard to overstate how dreadful for innovation and growth these rules will be. For starters, the legislation thickheadedly clamps down on AI models in general (which can be used in all kinds of ways), rather ...