ECB President Lagarde Urges Europe to Seize AI Revolution Opportunities

Deep News08-19 17:21

European Central Bank President Christine Lagarde has issued a warning that Europe must not fall behind as artificial intelligence reshapes the global economy. Speaking at the World Economic Forum headquarters in Geneva, Lagarde highlighted encouraging signs that European companies are actively investing in AI technology, citing survey data indicating that eurozone businesses will allocate approximately 9% of their total investment to AI this year.

"Europe largely missed out on the first digital revolution, with the commercial benefits from the spread of information and communication technology disproportionately captured by other regions," she said on Wednesday. "With AI representing the second digital revolution, we absolutely cannot repeat that mistake."

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