Europe facing unprecedented risk of being cut off from AI, Lagarde warns
Lagarde said AI could lift productivity by up to 4% over a decade as Europe faces growing dependence on U.S. technology.
- On Monday, European Central Bank President Christine Lagarde urged Europe to become a producer of artificial intelligence technology to preserve autonomy and achieve efficiency gains needed to maintain its way of living.
- Europe currently imports most AI technology from the United States, leaving it vulnerable to potential access restrictions that could disrupt every sector, Lagarde said.
- Lagarde warned that "Europe already has too little data centre capacity to meet its own demand, and on current trends, that gap is projected to grow more than sixfold within a decade."
- Trust between Europe and the United States has been shaken by tariffs, Greenland demands, and troop withdrawals, while U.S. technology firms' borrowing needs in Europe drive up costs for local borrowers.
- Lagarde proposed developing AI models that are "good enough" for most tasks and run on European infrastructure, a strategy that could lift productivity by up to 4 per cent over a decade.
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nachrichten.atThe ECB President warned of technological backwardness in Vienna.
Christine Lagarde, President of the European Central Bank (ECB), said that Europe cannot afford to rely exclusively on American technology in the field of artificial intelligence, as the continent could become vulnerable without independent developments, Bloomberg reported.
Europe faces unprecedented risk of being cut off from AI technology — Lagarde Christine Lagarde says Europe needs its own AI technology and computing power for autonomy and <p>economic efficiency. According to her, the shortage of data centers could increase sixfold.</p>
Channel News Asia
Europe facing unprecedented risk of being cut off from AI, Lagarde warns
FRANKFURT, Sept 14 : Europe must become a producer of artificial intelligence technology, partly to preserve its own autonomy and achieve the efficiency gains needed to maintain its way of living, ECB President Christine Lagarde said on Monday.European firms have been investing in AI but mostly importing the
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