The European Union is putting its own future at risk by falling behind in the adoption of artificial intelligence and must quickly remove the obstacles blocking the spread of this technology, European Central Bank President Christine Lagarde said Monday in a speech in Bratislava, according to Reuters, cited by Agerpres.
Lagarde noted that companies in the United States and China are investing heavily in AI, fueling debates about whether this spending surge signals a financial bubble or a major technological leap. She stressed that Europe has already missed the chance to be a pioneer in the field: “With the United States and China at the forefront, Europe has already missed the opportunity to be a pioneer in AI,” Lagarde said.
She warned that the EU is still paying the price for its slow adoption during the previous digital revolution and risks repeating the same mistake. “We risk letting the wave of AI adoption pass us by and endanger Europe’s future,” she added.
Unlike previous technological waves, artificial intelligence could spread faster and deliver tangible economic gains sooner, making swift action from EU member states essential. However, merely purchasing AI systems from major external players will not be enough, as it would deepen Europe’s dependency on foreign providers.
Lagarde emphasized the need to diversify AI supply chains: “We need to diversify the critical parts of the AI supply chain and avoid single points of failure. In fundamental areas such as chip-based computing power and data centers, we should maintain a minimum capacity.” She added that the EU must strengthen interoperability and open standards to boost competition, while also ensuring cheaper energy, more consistent regulations and a unified capital market capable of managing risk.
Last week, the European Union announced new measures aimed at reducing regulatory burdens for AI and data, underscoring the urgent need to restore Europe’s competitiveness and bridge its widening technological gap.
Photo: PetaPixel
