McKinsey: How competitive is Europe on technology?
Massimo Giordano: The McKinsey Global Institute has identified ten technologies that represent the future of our continent's competitiveness. Among those ten, Europe is behind other geographies in eight of them, particularly against the United States, China, and Asia.
Europe may be very good at cleantech, but if you take AI, none of the ten platforms now developing generative AI are based in Europe. All of them are either in the United States or China. And if you look at the numbers, US companies are investing six times more than their European counterparts in artificial intelligence.
This is creating a short-term competitive disadvantage and long-term concerns. Generative AI, and AI in general, is clearly a major trend, so how are Europeans addressing this topic? How will we build our own platform? There are some promising examples being developed, but we need to aggressively overinvest in these platforms to close the gap with the United States and China.