Something of a global trend has emerged over the last two decades as technology made by big companies gradually crept into every part of our lives, from the phones in our pockets to AI: The United States innovates on tech, China innovates some more, and Europe regulates.

In the last three years, the European Union has rolled out a raft of world-first rules to rein in the power big tech wields within the bloc; from laws forcing firms to monitor and cut down on harmful online content, to comprehensive artificial intelligence legislation designed to foster "trustworthy" AI in Europe.

But as world leaders, CEOs and researchers mingled at the "AI Action summit" in Paris this week, the EU seemed keen to give its image as big tech's police officer an industry-friendly makeover.

When European Commission President Ursula von der Leyen took to the stage in the French capital, the words "rules" and "regulations" only passed her lips once. Instead "innovation" and "investment" were her talking points — with new plans to drum up €200 billion ($207 billion) in funding and plans to build new AI gigafactories announced, alongside a pledge to "cut red tape."

If regulation seems to be falling out of vogue here in Europe, it's welcome news in Washington. Vice President........

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