ABSTRACT
The EU’s proposed Artificial Intelligence Act (AI Act) seeks to regulate AI with a risk-based approach, where AI applications in high-risk sectors need to comply with mandatory requirements. In this chapter I ask whether the AI Act sufficiently considers the power of Big Tech companies in the development of (generative) AI. I argue that the power of Big Tech companies is entwined with the rise of (generative) AI. However, by emphasizing the application of AI systems in specific sectors, the EU explicitly chose not to focus on the earlier stages of the AI lifecycle and thereby fails to address the problems that may arise from the influence of these Big Tech companies on (generative) AI.
