OECD Centre for Entrepreneurship, SMEs, Regions & Cities’ Post

𝐀𝐈 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭: 𝐄𝐮𝐫𝐨𝐩𝐞 𝐯𝐬. 𝐔𝐒 The gap between Europe and the US in terms of both AI adoption and investment continues to widen. Recent studies show that European companies lag behind their US counterparts by an average of 45-70% in spending on AI infrastructure, software, and services. When it comes to generative AI, Europe is also lagging. According to a 2023 McKinsey survey, 40% of North American companies have adopted generative AI in at least one business function, compared to 30% of European companies. Will this put Europe at an economic disadavantage when compared to the United States and China? Will the more cautious European regulatory approach - examplified by the EU AI Act - slow down innovation and hurt our prosperity over the long term? These important questions should be adressed quickly before we fall behind too much. #AI #Europe #AIInnovation #FutureofAI

Europe faces a choice that will impact the region for decades.   To set the right adjustments towards an innovative future we have to act now.    Today a group of different companies, researchers and institutions led by Meta published one of the most important pieces for the future of AI this year.   In our Open Letter to the #EU government we are asking for consistent rules in #AI innovation so that Europe’s companies do not miss out on the two cornerstones of AI - open source and multimodal models.   On the positive side: If we act timely, we can benefit from the technology for the next decades. Boosting up research, for example in the medical sector, and increased global GDP are only two of many ways! 🔬🚀   You will find our full letter here: Open Letter (euneedsai.com)

In the #DraghiReport "The future of European competitiveness – In-depth analysis and recommendations", he highlights a crucial issue: "𝘔𝘰𝘴𝘵 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵𝘭𝘺, 𝘮𝘦𝘮𝘣𝘦𝘳 𝘴𝘵𝘢𝘵𝘦𝘴 𝘥𝘰 𝘯𝘰𝘵 𝘤𝘰𝘰𝘳𝘥𝘪𝘯𝘢𝘵𝘦 𝘵𝘩𝘦𝘪𝘳 𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘱𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘯 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘢𝘯𝘥 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵 𝘵𝘰 𝘢𝘭𝘪𝘨𝘯 𝘪𝘵 𝘵𝘰 𝘌𝘜-𝘸𝘪𝘥𝘦 𝘱𝘳𝘪𝘰𝘳𝘪𝘵𝘪𝘦𝘴" (pg. 236). This lack of coordination is holding Europe back, especially when it comes to fields like #AI, where we are already falling behind global competitors. Draghi points to #CERN as a prime example of how successful EU-wide collaboration can lead to groundbreaking advancements and suggests "𝘊𝘰𝘰𝘳𝘥𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘬𝘦𝘺 𝘈𝘐 𝘷𝘦𝘳𝘵𝘪𝘤𝘢𝘭𝘴 𝘢𝘵 𝘵𝘩𝘦 𝘌𝘜 𝘭𝘦𝘷𝘦𝘭 𝘷𝘪𝘢 𝘢 𝘥𝘦𝘥𝘪𝘤𝘢𝘵𝘦𝘥 ‘𝘊𝘌𝘙𝘕-𝘭𝘪𝘬𝘦 𝘈𝘐 𝘪𝘯𝘤𝘶𝘣𝘢𝘵𝘰𝘳’" This model of coordination is exactly what CLAIRE is advocating for with the #CERN4AI initiative. By fostering collaboration and aligning efforts, we can ensure Europe takes the lead in shaping the future of trustworthy AI. Check out CLAIRE's "𝘔𝘰𝘰𝘯𝘴𝘩𝘰𝘵 𝘪𝘯 𝘈𝘳𝘵𝘪𝘧𝘪𝘤𝘪𝘢𝘭 𝘐𝘯𝘵𝘦𝘭𝘭𝘪𝘨𝘦𝘯𝘤𝘦" proposal here: 🔗 https://lnkd.in/dbpS96QX Morten Irgens Holger Hoos Philipp Slusallek Alexa Kodde #AI #Research #CERNforAI #Europe #Innovation #Collaboration #MarioDraghi #ClaireInitiative #FutureEuCompetitiveness

Can GenAI boost European competitiveness? ♟ Europe has been lagging behind on GPD growth compared to the US, mainly due to a slowdown in productivity growth. During the ICT revolution from 1995 to 2010, US productivity grew more than twice as fast as Europe’s. Now, this pattern could be repeated if the EU doesn't grasp the next technological cycle centred around #AI. Our latest research commissioned by Google explores how generative AI can boost productivity in key EU sectors, alleviate labour shortages, and help reach new frontiers in #science, #energy, and #medicine. Key findings include: 💶 Generative AI has the potential to contribute €1.2-1.4 trillion to the EU's economy over the next decade, equivalent to 8% of the EU's GDP. 🚀 Productivity potential from generative AI reaches an annual 1.4 percentage point in the peak year. 🔎 Over 60% of jobs have the potential to be augmented by generative AI. 💡 While the EU is strong in laying the foundation for safe and reliable AI environments, it lags behind globally on key innovation drivers such as talent, research, development, and commercialization. The mere existence of technology is no guarantee of these economic and social gains. Realising its full potential will require timely investments in #skillsdevelopment, #innovation, and research, as well as successful job transitions. There are plenty of pitfalls and dilemmas with using and developing AI. However, the biggest risk of all is missing out. See also the Draghi report: https://lnkd.in/dv5meduS #eucompetitiveness #draghireport #economicstrategy #genai Implement Consulting Group Bodil Emilie Hovmand Martin Hvidt Thelle Nikolaj Tranholm-Mikkelsen Laura Virtanen Alexander Jagd Oure Hans Henrik Woltmann Anders Thor Lundberg Eva Rytter Sunesen Malte Lisberg Buhr

The rapid emergence of new technologies and AI provide opportunities and challenges for societies. This new paper from the International Science Council offers a framework using dimensions of wellbeing, trade and economy, environmental, geostrategic and geopolitical, and technological, that need to be considered when evaluating a new technology.

We're excited to announce that this Monday, May 13th, we're co-organising with VdA Vieira de Almeida, a 𝗰𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝘁𝗼 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗿𝗲𝗰𝗲𝗻𝘁𝗹𝘆 𝗮𝗽𝗽𝗿𝗼𝘃𝗲𝗱 𝗘𝗨 𝗔𝗜 𝗔𝗰𝘁. The conference is open to all and divided in 3 parts: 1️⃣ 𝗔𝗜 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝗘𝘂𝗿𝗼𝗽𝗲 We'll have two keynotes: one by Gabriele Mazzini from the European Commission, who has contributed to shaping AI policy and regulations in the EU, and another by Maria Manuel L. Marques who will bring the perspective of the European Parliament on the AI Act. These keynotes will be followed by a discussion panel that brings together the legal, economic, and innovation perspectives, represented by Magda Cocco, António Costa Silva, and Pedro Bizarro. Afterwards, we'll be looking into the future of research and innovation in Europe (2028-2034) in a talk by Manuel Heitor, Chair of the High-Level Group for the Evaluation of Horizon Europe. 2️⃣ 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗗𝗮𝘁𝗮 𝗦𝗽𝗮𝗰𝗲𝘀 We'll then do a deep dive on AI data with a keynote by António Biason, who will bring the European Commission perspective on Data Policy. This keynote will be followed by a discussion panel with Joana Feijó, Joseph Paton, and Luís Filipe Antunes, all actively engaged in research and innovation in AI for health. 3️⃣ 𝗔𝗜 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗘𝗨 𝗔𝗜 𝗔𝗰𝘁 The last session, lead by Iakovina Kindylidi and Sara Guerreiro de Sousa, there will be demos of four AI products being developed at the Center. Each will illustrate a pillar of Responsible AI: Sustainability, Privacy, Fairness, and Explainability. The product demos will be conducted by Carlos Amaral(Priberam), Catarina Farinha (Unbabel),Lídia Tavares Dias(Youverse), and Ricardo Rei (Unbabel). For the closing remarks, we'll have the honor of welcoming Alberto Rodrigues da Silva, Secretary of State for Modernization and Digitalization. You can register for free and view the complete program here: https://lnkd.in/gMtw-BDk Looking forward to seeing everyone interested in shaping the future of AI in Europe 🇪🇺🚀 #eu #aiact #responsibleai #ai #innovation #europe

The role of #AI in government operations is growing and will become increasingly intertwined with how governments work as well as engage with the public. This #HBR article offers some practical use cases for anybody working in government to consider. 📢📢 "Broadly speaking, cities are pursuing AI projects in three broad categories: automating tasks (mentioned by 76% of respondents), making better decisions with data (41%), and engaging the community (23%)." https://lnkd.in/gqwJhBFv

𝐀𝐈 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 𝐭𝐡𝐞 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐋𝐞𝐯𝐞𝐥 I had an exciting conversation with Werner Stengg, a Senior Staffer with Executive Vice President Margrethe Vestager at the European Commission. We talked about the challenge of balancing innovation and regulation around Artificial Intelligence, the rise of AI factories as dynamic and collaborative ecosystems, the European Commission's long-term plans for fostering the development of AI in the private and public sector, and the relevance of the project "Digital Decade" as a comprehensive framework to guide Europe's digital transformation. The interview will be posted at the end of the year in our upcoming White Paper, "AI Innovation Report: Transforming Luxembourg's Future." Stay tuned👀 #EU #AIInnovation #AIRegulation #DigitalDecade

Redefining business with #ai and #processintelligence This short article shared by the #worldeconomicforum discusses how businesses must invest in process intelligence and AI and develop the right strategy, talent and culture. #artificialintelligence #generativeai #sustainabletransformation https://lnkd.in/d9GmqzzM

This comprehensive index evaluates various factors such as infrastructure, innovation capacity, policy frameworks, and educational resources, providing a clear picture of how equipped different countries are to harness the potential of AI. The study aims to guide policymakers, businesses, and stakeholders in understanding their strengths and areas for improvement, ultimately fostering a global environment conducive to AI advancement. Find out where different economies stand on the scale now on https://zurl.co/OXgS #CAIOInsights