As opposed to the US, which is famous for its hands-on, consumer-friendly attitude to business?
The challenge for the UK is actually building this stuff to a non-zero level of competence. The usual suspects in the IT consulting industry must be collectively having seizures over the prospect of being paid another 7 figure sum to deliver absolute slop several years behind schedule. Sunak beating himself up over the missed opportunity to inject another billion in cash to InfoSys.
I'm not saying all EU regulations are terrible. The impact of their AI regulations have resulted in Europeans either receiving new models or features later than other regions, or not receiving them at all.
There has to be a balance between a complete free for all and potentially snuffing out Europe's ability to compete.
I note that they've announced "work starting on a brand new supercomputer", so this is potentially backtracking on a very poor decision made last August to cancel a new exascale supercomputer at the University of Edinburgh. (https://www.bbc.co.uk/news/articles/cyx5x44vnyeo)
At least for AI regulation, the EU is the last place I'd want the UK to learn from.