Artificial Intelligence, the EIB criticizes the EU. Bridging the gap with the USA

EIB President Nadia Calvino was very clear at the forum held a few days ago in Luxembourg

The development ofArtificial intelligence appears continuous and exponential. There isn't a day that goes by without a new technical specification being announced or some financial move not being announced.

But AI is for now “made in the USA” and Europe is struggling somewhat to chase her.

Google, Microsoft, Apple, Amazon, Elon Musk's

The president of the EIB Nadia Calvino was very clear at the forum held a few days ago in Luxembourg with over 900 participants.

“As economic growth slows and we face increasingly complex geopolitical challenges, we also face the need to bridge the gap of green and digital transitions to overcome the backsliding of favorable demographic developments. It is more important than ever to join forces and address the challenge by working together, and investment banking can and will have an important role in catalyzing and finding solutions.”

In 2023 the Nice it allocated 88 billion euros to 400,000 companies creating 5.4 million new jobs.

During the debate it emerged that entrepreneurs are pessimistic about the future due to the end of public incentives, the so-called bonuses, linked to the pandemic and energy costs.

But – it emerges from the forum – technological innovation requires adequate technical-scientific profiles to be implemented which are not currently available on the market.

It must be said that a strategic problem now arises by simultaneously pursuing two ambitious objectives such as the ecological transition and the digital one in which AI is included.

The fight against climate change can only be done with nuclear power too”small” and this is why the EU is going in that direction while the energy transition cannot be supported solely by discontinuous renewable sources.

So technological innovation can help both sectors, both the ecological and the technological one.

For example, a lot of research needs to be done on storage batteries.

But the development of AI at this moment it is the driving force for all other things if we do not want to leave the ball in the hands of America which has already accumulated a great advantage over Europe.

There are no technology companies on our continent USAIndeed, the EU has always been close to a substantially Luddite culture that sees technology as more of a problem than an opportunity.

And this is the case of AI which promises to bring an epochal change to humanity as long as it is naturally, like any technology, controlled and framed within an ethic which has already been developed for other technologies of the past, not least the atomic one.

In Europe, given the persistent technological fragility of private individuals, states, namely the EU, need to invest in AI to bridge this gap with the USA or at least not let it expand further.