• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
NewslettersCEO Daily

EU’s new A.I. regulation looks past ‘existential risks’ to focus on tech’s role in everyday life, MEP says

By
Peter Vanham
Peter Vanham
and
Nicholas Gordon
Nicholas Gordon
Down Arrow Button Icon
By
Peter Vanham
Peter Vanham
and
Nicholas Gordon
Nicholas Gordon
Down Arrow Button Icon
July 5, 2023, 2:49 AM ET
"Reality is about what happens today, not apocalyptic scenarios," says Brando Benifei, MEP and "co-rapporteur" of the EU's new A.I. regulation.
"Reality is about what happens today, not apocalyptic scenarios," says Brando Benifei, MEP and "co-rapporteur" of the EU's new A.I. regulation.Vincenzo Nuzzolese—SOPA Images/LightRocket/Getty Images

Good morning, Peter Vanham here on the old continent, filling in for Alan.

Recommended Video

As most of the U.S. was enjoying a well-deserved holiday, I caught up with Brando Benifei, an Italian social-democrat, member of the European Parliament, and “co-Rapporteur” of the bloc’s A.I. regulation. I asked him if he shared Sam Altman fears that A.I. poses a “risk of extinction.” Here is what he said:

“The existential risks that Sam Altman speaks about are there. They should not be underestimated but not over-debated either. What we are concentrating on with [the EU’s A.I.] regulation is its impact on everyday life, the consumer and business that want to use A.I. to increase [their] productivity.” 

When I pressed him on the matter, he got even more explicit:

“The real problems of today of people are other than eradication of civilization. We don’t appreciate this debate [on A.I.’s existential threat] if it distracts from the real debate of what consumers are facing in real life. Reality is about what happens today, not apocalyptic scenarios.”

The EU’s A.I. legislation, expected to be final by year-end, focuses not on apocalyptic scenarios but rather aims to “mitigate and correct risks [of A.I.] in areas of employment, critical infrastructure, administration of justice, the democratic process,” and “the safety and fundamental rights of people,” Benifei said.

For example, the EU legislation will target mass surveillance through biometric cameras, real-time predictive policing, and deepfake content used for defamation of citizens or politicians, he said. Another area of concern is potential discrimination in the labor market if A.I. is used in the hiring process. All these use cases would either be banned or “scrutinized,” he said.

But don’t call Benifei or his fellow legislators a Luddite—or a bureaucrat bucking innovation.

“We want A.I. to thrive and grow, with a maximum legal certainty and risk avoidance and support for developers and users alike. We have a clear legal framework in Europe. We think that A.I. can make people more emancipated, more free, and [that it can] increase productivity and opportunities. That is the main message from us.”

More news below.

Peter Vanham
peter.vanham@fortune.com
@petervanham

TOP NEWS

CEO pay

Blackstone paid CEO Stephen Schwarzman $253 million last year, making him the highest-paid executive, according to data compiled by analytics company C-Suite Comp. Nine CEOs had pay packages over $100 million, a group that does not include Apple CEO Tim Cook, who earned a measly $99 million. Still, fewer CEOs are getting bumper compensation packages as companies trim equity awards for top executives. The Wall Street Journal

Toyota tech

Japanese carmaker Toyota claimed on Tuesday that it achieved a “technological breakthrough” that would cut the size and cost of its electric car batteries in half. The company hopes to commercialize its new solid-state battery technology by 2027. Toyota is trying to catch up in the electric vehicle market after losing ground to newcomers like Tesla and BYD. Financial Times

Meta court loss

Facebook owner Meta could lose its legal justification for providing targeted ads in the European Union, following a ruling by the Court of Justice of the EU on Tuesday. The CJEU backed a German order barring Meta from combining user data from Whatsapp, Instagram, and Facebook to provide tailored ads. Meta also faces a ban on exporting data on its European users to the U.S. Fortune

AROUND THE WATERCOOLER

China is ‘entering a balance sheet recession’ as borrowers shy away from new debt in a potential replay of Japan’s ‘lost decades’ by Will Daniel

Is Apple really worth $3 trillion? The math suggests no by Shawn Tully

The CEO of Fortune 500 homebuilder D.R. Horton reveals how he cornered the housing market amid a historic affordability squeeze by Lance Lambert

China’s Gen Z graduates fear they have ‘blank paper’ diplomas as youth unemployment hits a 20% and the economy chokes on anemic growth by Prarthana Prakash and Nicholas Gordon

Airbnb boss Brian Chesky says it’s critical not to become an ‘ivory tower’ CEO—so he lists his own home by Orianna Rosa Royle

Truth Social’s latest hurdle to going public: An insider trading scandal by Jessica Mathews

This edition of CEO Daily was curated by Nicholas Gordon. 

This is the web version of CEO Daily, a newsletter of must-read insights from Fortune CEO Alan Murray. Sign up to get it delivered free to your inbox.

About the Authors
By Peter VanhamEditorial Director, Leadership
LinkedIn icon

Peter Vanham is editorial director, leadership, at Fortune.

See full bioRight Arrow Button Icon
Nicholas Gordon
By Nicholas GordonAsia Editor
LinkedIn iconTwitter icon

Nicholas Gordon is an Asia editor based in Hong Kong, where he helps to drive Fortune’s coverage of Asian business and economics news.

See full bioRight Arrow Button Icon

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

Frustrated job seeker on laptop
NewslettersFortune Workplace Innovation
Nearly 4 in 10 job candidates have bailed on a hiring round because it required an AI interview
By Emma BurleighMay 4, 2026
1 hour ago
The crypto industry is obsessed with conferences. The vibe at them is changing
NewslettersFortune Crypto
The crypto industry is obsessed with conferences. The vibe at them is changing
By Jeff John RobertsMay 4, 2026
2 hours ago
VC firm Ethereal has avoided the spotlight for 5 years—now it’s telling its story
NewslettersTerm Sheet
VC firm Ethereal has avoided the spotlight for 5 years—now it’s telling its story
By Jeff John RobertsMay 4, 2026
3 hours ago
Occidental Petroleum’s CEO transition puts a spotlight on the foreign post advantage
C-SuiteNext to Lead
Occidental Petroleum’s CEO transition puts a spotlight on the foreign post advantage
By Ruth UmohMay 4, 2026
3 hours ago
Spirit Airlines’ shutdown is a case study in what happens when a turnaround plan breaks
NewslettersCFO Daily
Spirit Airlines’ shutdown is a case study in what happens when a turnaround plan breaks
By Sheryl EstradaMay 4, 2026
3 hours ago
The eBay logo with a mobile phone in 2025. (Photo: Klaudia Radecka/NurPhoto/Getty Images)
NewslettersFortune Tech
GameStop makes an unsolicited $56 billion offer for eBay
By Andrew NuscaMay 4, 2026
3 hours ago

Most Popular

America got rich and got sad. A top economist says 2020 broke something that hasn't healed
Economy
America got rich and got sad. A top economist says 2020 broke something that hasn't healed
By Nick LichtenbergMay 3, 2026
1 day ago
Diary of a CEO founder says he hired someone with 'zero' work experience because she 'thanked the security guard by name' before the interview
Success
Diary of a CEO founder says he hired someone with 'zero' work experience because she 'thanked the security guard by name' before the interview
By Emma BurleighMay 3, 2026
1 day ago
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
3 days ago
As economic despair mounts, Russian official admits the country has had enough of Putin's war on Ukraine. 'We can’t even take one region'
Economy
As economic despair mounts, Russian official admits the country has had enough of Putin's war on Ukraine. 'We can’t even take one region'
By Jason MaMay 3, 2026
17 hours ago
I spent a decade selling homes to the ultra-wealthy. What I saw explains the housing market's nepo problem
Commentary
I spent a decade selling homes to the ultra-wealthy. What I saw explains the housing market's nepo problem
By Blake O'ShaughnessyMay 3, 2026
1 day ago
Sam Altman says the quiet part out loud, confirming some companies are ‘AI washing’ by blaming unrelated layoffs on the technology
AI
Sam Altman says the quiet part out loud, confirming some companies are ‘AI washing’ by blaming unrelated layoffs on the technology
By Sasha RogelbergMay 3, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.