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Europe is doing the right thing, gen AI can be a massive productivity boon but regulators coming in to ensure that the wealth created goes to the people instead of centralized foreign entities is definitely a good thing. In the space left by ClosedAI open source and locally run versions can flourish instead.

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To ensure that the wealth doesn't go to foreign entities, they could create a CERN-like organization and fund AI/ML research, with the short term focus on LLMs.

What they are ensuring is that the jobs would go to countries that have 10x productivity (or whatever productivity gain we will get). Quite opposite to ensuring that the wealth accumulates among workers.

While this is a legitimate consideration, what EU regulators are doing right now is a step behind: they're trying to ensure that European data doesn't get syphoned out for shiny baubles again.

Anybody setting up an European chatGPT would be golden for the moment, even if it introduced back the same centralization of wealth.

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