10:26 AM EDT, 09/20/2024 (MT Newswires) -- Major technology firms are pushing for a more lenient approach to artificial intelligence regulations in the European Union ahead of the AI Act's enforcement, Reuters reported Friday.

While the AI Act was passed in May, the level of enforcement would depend on the law's accompanying code of practice, which has not been finalized, the report said. The EU has received over 1,000 applications from tech companies and others seeking to help draft the code, the report added, citing a source.

Microsoft ( MSFT )-backed (MSFT) OpenAI has applied to join the working groups, a person familiar with the matter reportedly told Reuters. Alphabet's (GOOG) Google ( GOOG ) has submitted a similar application while Amazon.com ( AMZN ) expressed its intent to "contribute our expertise and ensure the code of practice succeeds," according to the report.

Amazon ( AMZN ), Google ( GOOG ), Microsoft ( MSFT ) and Meta Platforms ( META ) did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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