That works both ways. Imagine that they had regulated the internet as it was starting to appear in the 90s? It actually happened in a small way here in Portugal. They regulated the .pt domain in such a restrictive way that it became irrelevant and everyone went with .com or other options. Thankfully they didn't regulate the internet services themselves or Europe would be a digital backwater these days.
This time they want to regulate the services even before they are functional which is crazy. They even call it the Artificial Intelligence Act when it is not clear if there is intelligence involved. It is also strange the insistence that companies have to disclose if the models were trained with copyrighted material. Google and Wikipedia, to name a couple, use plenty of copyrighted material and that seems to be ok and any issues in that department are already regulated.
This time they want to regulate the services even before they are functional which is crazy. They even call it the Artificial Intelligence Act when it is not clear if there is intelligence involved. It is also strange the insistence that companies have to disclose if the models were trained with copyrighted material. Google and Wikipedia, to name a couple, use plenty of copyrighted material and that seems to be ok and any issues in that department are already regulated.