Google (GOOGL) Pledges Support for EU AI Rules While Warning Against Overregulation

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Making Waves on Wall Street. On July 30, Alphabet Google’s global affairs president said in a blog post that it will sign the European Union’s code of practice to help companies comply with the bloc’s landmark artificial intelligence rules.

The voluntary code of practice strives to offer legal certainty to signatories on how to meet requirements under the Artificial Intelligence Act (AI Act).

“We do so with the hope that this code, as applied, will promote European citizens’ and businesses’ access to secure, first-rate AI tools as they become available.” -Kent Walker, who is also Alphabet’s chief legal officer.

A close-up of a laptop display that showcases the rules-based methodology IndexIQ uses for index selection. “In particular, departures from EU copyright law, steps that slow approvals, or requirements that expose trade secrets could chill European model development and deployment, harming Europe’s competitiveness.”

In other news, CNBC reported how Google executives are pushing their employees to be innovative with their use of artificial intelligence as the tech giant looks for ways to cut down costs.

CEO Sundar Pichai and executive Brian Saluzzo conveyed the message at a meeting last week.

“Anytime you go through a period of extraordinary investment, you respond by adding a lot of headcount, right? But in this AI moment, I think we have to accomplish more by taking advantage of this transition to drive higher productivity.”

Alphabet announced in its earnings report last week that it plans on spending spend $85 billion on capital expenditures in 2025, up from the previous $75 billion.

“We are competing with other companies in the world. There will be companies which will become more efficient through this moment in terms of employee productivity, which is why I think it’s important to focus on that.”

Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

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