Sam Altman, the CEO of the artificial intelligence chat bot’s parent company OpenAI has backtracked on threats to yank his product from EU territories amid a looming uptick in talk about artificial intelligence regulation.

The 38-year-old tech executive responded to the confederation's plan to restrict AI by calling their plans “over-regulating” however but rescinded his warning about any potential departure.

Sam said on Twitter: "We are excited to continue to operate here and of course have no plans to leave.

The EU plans - which are the first of its kind - to mandate AI firms to be clear about what copyrighted material had been deployed to train their systems to produce text and images after many in the creative sector have accused AI being trained with their work uncredited.

Earlier this month, Geoffrey Hinton - who has been dubbed ‘the godfather of AI’ - retired from his post at Google after warning it posed an “existential risk”.

The 75-year-old tech veteran told the New York Times that there were “bad actors” who would use the advancements for “bad things”.

He continued: “I’ve come to the conclusion that the kind of intelligence we’re developing is very different from the intelligence we have so it’s as if you had 10,000 people and whenever one person learned something, everybody automatically knew it. And that’s how these chatbots can know so much more than any one person.”

He told BBC News: "Right now, what we're seeing is things like GPT-4 eclipses a person in the amount of general knowledge it has and it eclipses them by a long way. In terms of reasoning, it's not as good, but it does already do simple reasoning.

"And given the rate of progress, we expect things to get better quite fast. So we need to worry about that."