The AI Act aims to provide companies in Europe with a comprehensible and practical foundation for the use of AI in their processes. While we commend the EU Commission's intention, the current draft and approach of the CoP imposes highly demanding and costly reporting and compliance burdens on its affected parties, especially for industrial use of AI. We believe that the CoP in its current form threatens to hinder innovation and investments in AI and does not provide adequate guidance for complying with the AI Act.