How Much Will the Artificial Intelligence Act Cost Europe?

by Benjamin Mueller July 26, 2021

written by Benjamin Mueller July 26, 2021

If adopted, the EU’s Artificial Intelligence Act will be the world’s most restrictive regulation of the development and use of artificial intelligence (AI) tools. It will not only limit AI development and use in Europe but impose significant costs on EU businesses and consumers. The AIA will cost the European economy €31 billion over the next five years and reduce AI investments by almost 20 percent.

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Benjamin Mueller

Benjamin Mueller is a senior policy analyst at the Center for Data Innovation, focusing on AI and technology governance. Prior to joining the Center he was chief of staff at a financial technology company in London. Dr. Mueller studied Politics, Philosophy and Economics at the University of Oxford, and completed his PhD in International Relations at the London School of Economics.

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