Prince Constantijn of the Netherlands, special envoy to Techleap, a Dutch startup accelerator, expressed concerns that Europe is focusing too much on regulating artificial intelligence (AI) instead of striving to lead in innovation. In an interview at the Money 20/20 fintech conference in Amsterdam, Constantijn stated that Europe's ambition seems limited to being good regulators. He emphasized that while regulations are important for clarity and predictability, keeping up in the fast-moving AI space becomes challenging. Constantijn pointed out that the European Union's strict regulations on AI, such as the recently approved EU AI Act, may impede innovation and hinder Europe from becoming a producer that influences the market.

He compared it to the situation with genetically modified organisms, where Europe's regulations restricted its development and turned it into a consumer rather than a producer. Constantijn also mentioned that Europe faces challenges in AI innovation due to restrictions on data, especially in sectors like health and medical science. He acknowledged that Europe excels in talent and technology but lags behind the US, which has a larger and more unified market with greater capital flow. Nevertheless, Europe remains competitive in developing AI applications, although it still relies on large platforms for underlying data and IT infrastructure.