Europe risks falling behind in the global artificial intelligence race unless it eases strict regulations on the technology, Sweden's Prime Minister Ulf Kristersson warned on Thursday.
Speaking at the Techarena event in Stockholm, Kristersson urged European policymakers to adopt a more flexible approach to AI governance to remain competitive with economic powerhouses such as the US and China.
"I think we really need to step up in Europe ... the American economy, Chinese economy have been growing far faster compared to the European economies over the last 20 years," he said at the event, according to CNBC.
"If we don't change that, Europe will actually become some kind of a museum compared to other parts of the world," he said.
Kristersson's remarks align with concerns raised by other European leaders at the Paris AI Action Summit last week, where officials emphasized the need for Europe to strengthen its role in AI development.
The EU AI Act is the first-ever legal framework for the technology, aiming to address the risks of AI and foster a "trustworthy" approach to the technology, according to the European Commission.
The act came into effect in August 2024.
