EU vs. US: which will discourage innovation more?

EU: (Thibault Schrepel):

If you read the #AIAct carefully and read between the lines, you quickly realize that it greatly expands the investigative powers of antitrust agencies.

Here is an example: the EU regulates high and low risk activities similarly, but...

Only those AI systems that are used in high-risk sectors (seethe list in Article 2 and Annex III of the European Commission’s AI Act) and that are nondeterministic should be burdened to the highest compliance requirements. The systems that are used in high-risk sectors but whose output is highly predictable (e.g., AI systems that rely on expert systems) should be subject to lower compliancerequirements because they present a lower degree of actual risk.

US (Politico):

The White House is poised to make an all-hands effort to impose national rules on a fast-moving technology, according to a draft executive order.

...

At the same time, the Oct. 23 draft order calls for extensive new checks on the technology, directing agencies to set standards to ensure data privacy and cybersecurity, prevent discrimination, enforce fairness and also closely monitor the competitive landscape of a fast-growing industry. The draft order was verified by multiple people who have seen or been consulted on draft copies of the document.

Based on history (see previous blog posts here), i.e., the EU doesn't seem to care as much about mistakenly deterring innovation, though that may be changing under the Biden Administration.