> This crippled GMO research in Europe.
Did it?
But yes, if something is banned then its probably bad for business and innovation around it. Europe is probably missing out on carcinogenic food additive innovations too. Okay, GMO's are not banned by EU but they are banned by some of the largest EU countries and if those countries fell behind in GMO tech, maybe it's due to the local bans and not the EU regulations?
EU isn't into banning AI though. Regulating doesn't mean banning, consider EU's digital markets act - EU didn't ban AppStore but put a requirement on device manufacturers to allow other AppStores. When EU regulated the EV charging ports, it did not ban EVs, but put a requirement to have unified plug.