Recently, Europe has taken significant steps towards putting stringent laws in place to regulate the use of Artificial Intelligence (AI) and facial recognition technology. However, this move has been viewed as too hasty by some experts in the United States (US), sparking ongoing debates about the best ways to govern this emerging technology that has disruptive potential.

The European Union (EU) published the world’s first draft regulations for AI in April 2021. These provisions propose substantial fines for companies that fail to comply with regulations, the establishment of AI ‘watchdogs’ and the restriction of certain uses of AI. The proposals are far-reaching, with potentially significant implications for the tech industry, both within Europe and globally.

However, across the Atlantic, several American commentators and industry experts believe that Europe may be moving too quickly. Critics argue that excessive regulation might stifle innovation. Putting stringent rules in place before understanding the true nature of the technology, its implications, and uses, could potentially hold back technological advancement and economic growth driven by AI. US tech firms which have considerable business and investments in Europe would also be directly affected.

Michael Kratsios, former United States Chief Technology Officer, suggested that the approach taken by the EU seems to be one of ‘regulation first, ask questions later’. He argued that it’s important to understand the broader context of AI’s advancements before deciding on regulatory rules. Moreover, the rate at which technology evolves could render legal regulations obsolete if not regularly updated.

US industry insiders also expressed concerns that the EU’s top-down approach might set a precedent for other countries. If influential bodies such as the EU effectively decide to slow down technological development through regulation, it could inspire similar moves in other regions.

However, while some in the US view Europe’s approach as too hasty, others commend Europe for taking a pioneering stance, considering the potential misuses of AI. Some argue that having some regulations in place is better than having none, given incidents of AI-related ethical issues, including privacy infringement and biased algorithms.

In conclusion, the EU’s proposed AI regulations present an important global test case. As the first of its kind, these rules could offer valuable lessons and insight to countries worldwide grappling with the challenge of governing a powerful, rapidly evolving technology. It remains crucial for lawmakers, technologists, and society alike to strike a balance between fostering AI innovation and ensuring ethical, safe, and fair use of AI. This would help to prevent potential misuse while harnessing the positive potential of AI for the betterment of society in the long term