Magda Cocco has published an article in Jornal de Negócios in which she analyses the challenges and opportunities for Portugal's competitiveness in the field of Artificial Intelligence (AI). In the article entitled ‘Challenges in the age of technology and Artificial Intelligence: Artificial Intelligence and Portugal's competitiveness. What role for regulation?’, Magda Cocco discusses the growing impact of AI on organisations and the economy, and explores the fundamental role that regulation plays in turning this technology into a competitive advantage for the country.
The VdA lawyer emphasises that business competitiveness depends increasingly on the ability to efficiently integrate innovative technologies. In this regard, the European Union (EU) has adopted a strict regulatory approach, compared to other regions such as the United States and Asia, with the aim of protecting fundamental rights such as privacy and security.
The recent EU AI Regulation is considered ‘a global regulatory milestone, given its extraterritorial scope’. According to Magda Cocco, the regulation defines guidelines for companies that develop or use AI in applications ‘that present a high risk to health, safety and/or fundamental rights’.
In Portugal, the challenge is to adapt the implementation of these guidelines, promoting an ecosystem that supports start-ups and encourages collaboration between research centres and companies. ‘'We can have a real influence on how we implement the Regulation in Portugal, by approving public measures aimed at creating a favourable ecosystem for start-ups, speeding up the approval of infrastructure projects and encouraging collaboration between research centres and companies, among other initiatives‘', explains Magda Cocco.
Magda Cocco's article defends the idea that with the implementation of a successful strategy, AI regulation can boost competitiveness and position Portugal at the forefront of technological and economic development.
- This article is available here.
