Prompting Europe + The AI Act: Supporting AI Startups and Navigating New Regulations
May 22, 2024

Prompting Europe is a roadshow event supporting European startups' AI initiatives. This is a collaborative effort between Vultr and several European startup organizations, including those from Sweden, Denmark, The Netherlands, Spain, and Italy. Our mission is to empower AI startups by providing them with the resources, knowledge, and networking opportunities they need to thrive in the rapidly evolving AI landscape.

About Prompting Europe

Prompting Europe was launched to bring together leading experts and organizations to address the challenges and opportunities facing European AI startups and build a community of like-minded founders. Through a series of engaging sessions, including panel discussions and interactive forums, we aim to catalyze the growth of AI startups and equip them to scale globally and compete on the world stage.

The conference will provide opportunities for AI startups to connect, learn, and scale, transforming Europe's perceived disadvantages into strengths.

"In a way, all startups are AI startups now,” said Lucien Burm, Board member of Allied for Startups, the global representative for startups and initiator of Prompting Europe. "While Europe has lagged, it's not too late to leap forward. At Prompting Europe, we're determined to help AI startups overcome challenges and seize opportunities to become the next big worldwide players. Join us in this journey, proudly supported by Vultr with their AI expertise and Cloud GPUs."

Where Vultr comes in

As a global company, Vultr is committed to supporting AI innovation worldwide, and Europe is an essential component of our strategy. We see EU-based companies like Hugging Face, Stability, and Mistral all making excellent progress when developing their AI models, but what about accessing the resources needed to create these great products? We need to make GPU accessibility available worldwide.

Vultr provides access to NVIDIA GPUs in every data center we operate – not just in the US but across the globe. This includes our sovereign cloud services, which ensure that data compliance and security meet regional requirements. The timing of our presence in Europe is particularly significant, aligning with the announcement of the world's first comprehensive AI regulation: the AI Act.

The AI Act: A new era of regulation

The AI Act is a groundbreaking legislative framework introduced by the European Union to regulate artificial intelligence. Its primary goal is to ensure that AI systems are safe and transparent and respect fundamental rights, reflecting the EU's commitment to ethical AI development.

The AI Act sets a global precedent for AI regulation, emphasizing the need for trustworthy AI. It aims to mitigate risks associated with AI – such as bias, discrimination, and privacy violations – while promoting innovation, competitiveness, and the sovereign cloud within the EU.

What does it mean in practice?

The AI Act categorizes AI systems based on their risk levels, from minimal to unacceptable risk. It mandates stringent requirements for high-risk AI systems, including transparency, human oversight, and robust data governance. This ensures that AI technologies are developed and deployed responsibly.

Maxime Ricard, Policy Manager at Allied for Startups, the global startup association, stated, "While the AI Act represents a significant opportunity for regulatory stability in Europe, complying with this new law will prove challenging for startups and may limit the European Union’s competitiveness in a globally interconnected world.”

Vultr's approach to the AI Act

At Vultr, we're committed to complying with the AI Act and other relevant regulations, such as GDPR. Our approach includes ensuring that our AI services meet the highest privacy and security standards. For a detailed look at our compliance measures, check out our post about data residency with Vultr.

Join us: Upcoming stops in Copenhagen and Stockholm

The Prompting Europe roadshow is just getting started. Our next stops are Copenhagen and Stockholm, where we'll continue to engage with local AI communities and support their growth. Stay tuned for announcements on additional stops as we expand our efforts to foster AI innovation across Europe and the globe.