Norway's Tangen Says Europe Has More AI Rules Than AI
Nicolai Tangen warns that regulating first risks stopping AI development before it starts.
In Good Company with Nicolai Tangen · Friday Wrap-Up: Lessons from Google’s Former CEO and Europe’s AI Regulation ProblemFormer Google chief executive Eric Schmidt told Nicolai Tangen, who runs Norway's sovereign wealth fund, that “Europe regulates before it innovates.”
When asked what he thought, Tangen said he agreed. He put it this way: “We have more regulations than AI, whilst in the US they have more AI than regulations.”
He argued that overregulating artificial intelligence in Europe would be potentially very unfortunate. He warned, “you can really stop the development before it started,” and said what Europe needs now is putting the technology to use.
His example was from Norway. He said Norway was “the first country to regulate away” Meta glasses in public places, referring to glasses with a built-in camera that can record people in public.
Norway's data protection authority has raised privacy concerns about filming in public without clear consent.
According to Tangen's account, Mario Draghi, the former president of the European Central Bank, made a similar point some weeks before the interview in the Financial Times. Tangen said Draghi argued that Europe needs to put AI to use broadly to stay competitive.
Tangen tied that need to competition from China, which he described as getting stronger in many areas. To compete, he said, Europe must become more efficient, and artificial intelligence can help it do that.
Questions people ask
What are Meta glasses and why would Norway regulate them?
Meta glasses, now sold as Ray-Ban Meta glasses, are glasses with built-in cameras, microphones, and speakers that can take photos, record video, and connect to an AI assistant. Norway's data protection authority raised privacy questions about filming people in public without clear consent. Several European regulators have examined the same issue under strict privacy rules.
Has Europe actually passed a major AI law?
Yes. The European Union passed the EU AI Act, the world's first comprehensive law for artificial intelligence, which took effect in 2024 with requirements phased in over several years. It sorts AI systems by risk and places the strictest limits on uses like social scoring and real-time facial recognition in public. Supporters call it consumer protection, while critics say compliance falls hardest on startups.
Who is Mario Draghi and why does his opinion matter?
Mario Draghi is the former president of the European Central Bank and former prime minister of Italy. In 2024, he wrote a widely discussed report on European competitiveness that warned the region was falling behind the United States and China in productivity, investment, and advanced technology. He has since urged faster adoption of digital and AI tools.