Siemens CEO Roland Busch stated that investing in China and the United States is more logical due to the European Union's regulatory burden. He criticized treating industrial data the same as personal data, impacting shareholder investment in a restrictive environment.
This sentiment highlights concerns surrounding the EU's artificial intelligence framework and data regulations, which are seen as significant roadblocks for European businesses. The threat of losing industrial champions is palpable as the US offers deregulation and financial incentives, prompting European firms to diversify investments.
US President Donald Trump's administration actively tracks global companies planning US investments. Major German companies like Siemens and SAP have previously called for revising EU AI and data rules, with German Chancellor Friedrich Merz expressing support for simplification, particularly for industrial AI regulations.
The EU's AI Continent Action Plan includes developing AI Gigafactories, but these require a substantial number of chips, many sourced from the US. The EU is working to boost its own chip industry through initiatives like the European Chips Act, with plans for a Chips Act 2.0 to address the AI-chip capacity gap, requiring significant EU and Member State funding. However, concerns remain about the speed of implementation and potential bureaucracy hindering progress compared to international competitors.