This short paper aims to unpack some of the assumptions underlying the “Policy and Investment Recommendation for Trustworthy AI” provided by the High-Level Expert Group on Artificial Intelligence (AI) appointed by the European Commission. It elaborates in particular on three aspects: on the technical-legal dimensions of trustworthy AI; on what we mean by AI; and on the impact of AI. The consequent analysis results in the identification, amongst others, of three recurrent simplifications, respectively concerning the definition of AI (sub-symbolic systems instead of “intelligent” informational processing systems), the interface between AI and institutions (neatly separated instead of continuity) and a plausible technological evolution (expecting a plateau instead of a potentially near-disruptive innovation).