'Responsibility and innovation go hand in hand' - AWS thinks global alignment on AI regulation is possible but can't come at the cost of growth and success

"One of the most notorious of these laws was the 'Red Flags Act', restricted the speed of 'horse-less' vehicles to just 2mph in built-up areas and 4mph in the countryside. Worse still, the legislation required three vehicle operators: two in the vehicle itself, and another walking ahead carrying a red flag to inform oncoming traffic that an automobile was coming."

"For me, this is a really important lesson from history, because it shows that we not only need to have a shared understanding of what risk and misuse of the technology is, but if you overregulate a technology mitigating for every single possible misuse, you actually miss out on the benefits that this technology represents,"

"We need to focus not only on the risks of misuse of the technology, we also need to focus on what it means if we miss out - the missed use of the technology - if we miss out on what this opportunity represents, not only in terms of the economic benefits to GDP and European competitiveness, but more fundamentally to the beneficial use of what this technology represents for everyday life of people in Europe,"

The Red Flags Act limited 'horse-less' vehicles to 2mph in built-up areas and 4mph in the countryside, and required two operators plus a pedestrian carrying a red flag. These restrictions delivered a hammer blow to the nascent automobile industry during its critical embryonic stages. That historical lesson parallels the current regulatory challenge around generative AI, where overregulation could prevent realization of economic and societal benefits. Balanced regulation requires a shared understanding of risks and misuse while also accounting for missed opportunities, including impacts on GDP, European competitiveness, and everyday beneficial uses for people.

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