The 'Brussels Effect' and the EU's Ability to Regulate the Global Marketplace

The European Union has the unilateral ability to regulate the global marketplace due to its large and wealthy consumer market. Companies that want access to the EU market must adhere to European regulations, leading them to extend these regulations globally to avoid the cost of complying with multiple regulatory regimes. The EU is able to regulate relatively quickly on artificial intelligence due to less political polarization, limited lobbying influence compared to the US, and civil society's access to legislators. The EU's functional government and capable legislator have enabled it to accomplish significant tech regulation in contrast to the US.