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EU AI Act is much worse than you think

The regulation needs repealing

A start-up trying to build an AI tutor must produce impact assessments, certificates, risk management systems, lifelong monitoring, undergo auditing and more. Each member state (in countries like Germany this may even be each länder) will have at least one Market Surveillance Authority responsible for ensuring compliance, investigating failures and applying penalties. There seem to be two problems underlying the Act: a misunderstanding of where the gains from AI will actually accrue, and an unwillingness to let benefits and losses be incurred by free individuals in the market.

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