Tech

Analysis: Rival nations move to woo Europe’s AI start-ups - risking costly consequences for Ireland

European Union’s AI Act is the start of a regulatory divergence that could spell trouble for the Irish tech sphere

It has only been a few days since the passage of the European Union’s AI Act but other nations are already starting to pitch to promising AI start-ups. Picture: Getty

It has only been a few days since the passage of the Europe’s landmark AI Act - and the global tech industry has no interest in letting the dust settle.

Nations outside the remit of European Union legislation are already moving to poach some of the bloc’s most promising AI start-ups, which could raise concerns for the Irish tech scene and the money that flows through it.

The courters include Canada, the United Arab Emirates, Singapore, the UK and Denmark, who are offering subsidies, lenient tax regimes and lighter regulation to persuade them to move location, according to the Financial Times.