Meta says it won't sign Europe AI agreement, calling it an overreach that will stunt growth

Meta Platforms said it won't sign the European Union's artificial intelligence code of practice because it is an overreach that will stunt growth, global affairs chief Joel Kaplan wrote. "Europe is heading down the wrong path on AI," Kaplan wrote in a post Friday on LinkedIn

The guidelines aim to help companies comply with the AI Act enacted last year, which attempts to imve transparency and safety

In this articleMETA your favorite stocksCREATE FREE ACCOUNTJakub Porzycki | Nurphoto | Getty ImagesMeta Platforms declined to sign the European Union's artificial intelligence code of practice because it is an overreach that will "stunt" companies, according to global affairs chief Joel Kaplan (remarkable data). "Europe is heading down the wrong path on AI," Kaplan wrote in a post Friday on LinkedIn

At the same time, "This code introduces a number of legal uncertainties for model developers, as well as measures which go far beyond the scope of the AI Act. "Last week, the European Commission, the executive body of the EU, published a final iteration of its code for general purpose AI models, leaving it up to companies to decide if they want to sign

The rules, which go into effect next month, create a framework for complying with the AI Act passed by European lawmakers last year

However, It aims to imve transparency and safety surrounding the nology, considering recent developments

Nevertheless, On the other hand, Read more CNBC newsPeter Thiel just bought a big stake in Tom Lee's ether company and the s are surgingNvidia CEO Jensen Huang wants to sell more advanced chips to China after H20 ban is liftedCrypto bounces on renewed optimism House could pass key stablecoin legislation this weekWhoop says FDA is 'overstepping its authority' with warning blood pressure featureMeta isn't the first company to stand up against Europe's new AI rulebook

Nevertheless, ASML Holding and Airbus were among the signatories in a recent letter that called on the EU to delay the code for two years, in this volatile climate

Last week, OpenAI committed to signing the code of practice

Nevertheless, Additionally, "We concerns raised by these es that this over-reach will throttle the development and deployment of frontier AI models in Europe, and stunt European companies looking to build es on top of them," Kaplan wrote, in this volatile climate

Kaplan replaced former global affairs chief Nick Clegg earlier this year

He previously served as vice president of U, in today's market environment

Policy at Facebook and was a staffer in President George W

Bush's administration, in today's market environment

Nevertheless, WATCH: Executive Edge: Meta is reportedly considering a significant change to its AI strategywatch now0:4800:48Executive Edge: Meta is reportedly considering a significant change to its AI strategySquawk Box.