Europe Must Rethink its Strategy for AI
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The European Court of Auditors stresses that while the European Commission has taken important steps toward developing a strong AI ecosystem, significant challenges remain. Without addressing these key areas, the EU risks falling behind global leaders in AI innovation and missing out on the associated economic and societal benefits.
By Paolo Licandro
BRUSSELS, November 6, 2024 – 4 MINUTES READ
The European Court of Auditors (ECA) wrote a recommendation on EU strategy on Artificial Intelligence (A.I.). It is evident to everyone that Europe is once again chasing yet another technological revolution that it does not have in its hands.
For AI, the same thing is happening as with all other technological revolutions: video recorders in the 80s, HD screens in the 90s and now 5K, smartphones in the 2000s, and vehicle batteries and electric cars in the 2010s, just to mention the most important ones. Europe is always behind everyone else because it can provide brains and ideas but is not capable of realizing products ready for the market.
Europe stands at a critical juncture, once again facing the challenge of asserting itself in the global technological arena. Despite possessing immense intellectual capital and innovative ideas, the European Union consistently hesitates to launch large strategic projects. This reluctance is often fueled by member states clinging to national interests and mutual vetoes, overshadowing the collective potential of the union. Such divisions have led to missed opportunities and a pattern of falling behind in global challenges over recent decades.
Take the energy transition as an example. The EU has set ambitious goals for sustainable energy, aiming to combat climate change and reduce dependence on fossil fuels. However, these objectives have not been adequately supported by a cohesive industrial strategy. As a result, Europe imports a significant portion of the technologies and materials necessary for this transition. Instead of fostering a robust internal market and production capacity for renewable energy technologies, the continent remains reliant on external suppliers, undermining its autonomy and economic strength.
Another glaring example is the microchip industry. Europe boasts the expertise to design cutting-edge microchips and even hosts state-of-the-art production facilities, such as those in the Netherlands. Yet, the tendency to sell these assets to third countries diminishes the EU’s ability to compete globally. This not only affects….
. European Court of Auditors full text
. List of first 20 AI Companies
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