Siemens Warns EU’s AI Rules Will Deter Investment in Europe

Siemens AG will prioritize artificial-intelligence investments in the US and China if the European Union doesn’t adapt its restrictive regulations, according to Chief Executive Officer Roland Busch.

Most of the company’s €1 billion ($1.2 billion) investment in industrial AI will be directed to the US due to Europe’s regulatory burden, Busch said in an interview at the Hanover trade fair. The EU’s AI Act and Data Act “miss the mark” by treating industrial AI like consumer applications, adding new layers of oversight to areas already subject to sector-specific rules, he added.