At Paris meet, US’ Vance warns against excessive AI regulation-OxBig News Network

US Vice-President JD Vance on Tuesday warned global leaders and tech industry executives that “excessive regulation” could cripple the rapidly growing artificial intelligence industry in a rebuke to European efforts to curb AI’s risks. The speech underscored a widening, three-way rift over AI.

The US, under President Donald Trump, champions a hands-off approach to fuel innovation, while Europe is tightening the reins with strict regulations to ensure safety and accountability. Meanwhile, China is rapidly expanding AI through state-backed tech giants, vying for dominance in the global race.

The US was noticeably absent from a joint statement signed by more than 60 nations, pledging to “promote AI accessibility to reduce digital divides” and “ensure AI is open, inclusive, transparent, ethical, safe, secure and trustworthy”.

The agreement also called for “making AI sustainable for people and the planet” and protecting “human rights, gender equality, linguistic diversity, protection of consumers and of intellectual property rights”.

In a surprise, China, long criticised for its human rights record, signed the declaration, leaving the US as the outlier.

At the summit, Vance made his first major policy speech since becoming the Vice-President last month, framing AI as an economic turning point but cautioning that “at this moment, we face the extraordinary prospect of a new industrial revolution, one on par with the invention of the steam engine”.

“But it will never come to pass if overregulation deters innovators from taking the risks necessary to advance the ball,” Vance added.

The Trump administration will “ensure that AI systems developed in America are free from ideological bias”, Vance said and pledged the US would “never restrict our citizens’ right to free speech”.