EU’s Virkkunen says rule of law makes it reliable investment partner

By Jeffrey Dastin

DAVOS, Switzerland, Jan 22 (Reuters) – Europe’s rule of law and reliability are critical to the case for investing in the continent given uncertainties in other parts of the world, the EU official responsible for tech sovereignty, security and democracy said on Thursday.

“Europe wants to really attract innovators and investment, and we are in the process, really to make Europe faster, easier and simpler for the businesses,” European Commission Executive Vice-President Henna Virkkunen told Reuters.

Europe offered long-term certainty for innovation and investment as well as being “a reliable partner”, Virkkunen said in an interview, adding: “It’s also important for the investors to know that rule of law is respected here”.

Virkkunen is tasked with addressing the security threats facing the European Union, while also strengthening the 27-member bloc’s external borders and its internal security.

One of the areas of technology the EU is wrestling with is the rapidly developing use of artificial intelligence (AI).

Earlier this month, the European Commission ordered Elon Musk’s X to retain all documents relating to its AI chatbot, Grok, for longer while the bloc ensures compliance with its rules after condemning it for producing sexualised images.

“We are now also analysing the changes they have made to Grok and to look (at) if it’s complying … if it’s in line,” Virkkunen said, adding it was “totally unacceptable” for AI tools to be used “to create that kind of non-consensual intimate images of people”, particularly of children.

(Reporting by Jeffrey Dastin; Writing by Alexander Smith; Editing by Philippa Fletcher)