European companies including ASML Holding NV, Airbus SE and Mistral AI have called on the European Union to suspend the implementation of its landmark artificial intelligence regulation for two years because they say it puts the continent’s AI ambitions at risk.

CEOs said the bloc’s ability to become a leader in nascent AI is being disrupted by overlapping and complicated regulations.

Airbus (OTCPK:EADSF) and Mistral AI have urged the EU to postpone implementation of the region's AI regulation for two years because they say it puts Europe's AI ambitions at risk. In a letter signed by representatives from over 45 organizations,