Europe must build own AI or risk getting cut off by US or China, says ECB’s Lagarde
Central bank chief says continent’s AI dependency could give trade partners unprecedented leverage in negotiations Europe must develop its own AI technology and build more datacentres in order to nullify the threat of being cut off by the US or China, according to the president of the European Central Bank. Christine Lagarde said the continent needed AI models – the technology that powers AI…
European Central Bank President Christine Lagarde warns that Europe must create its own artificial intelligence technology or risk being cut off from the US and China. Lagarde argues that Europe's dependency on AI from these countries could give them significant leverage in negotiations, affecting everything from tariffs to digital taxes.
To avoid this, Europe needs to develop AI models capable of handling most tasks and run on domestic data centers. Currently, the US hosts 75% of the world's AI computing capacity, while Europe has only 5%. Lagarde suggests that adopting AI quickly could lead to a 4% boost in productivity over a decade, but warns that a lack of AI infrastructure could leave Europe vulnerable to economic disruption.
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Also reported by 3 other outlets
- Europe must build own AI or risk getting cut off by US or China, says ECB’s Lagarde theguardian.com
- Europe facing unprecedented risk of being cut off from AI, Lagarde warns economictimes.indiatimes.com
- Europe facing unprecedented risk of being cut off from AI, Lagarde warns channelnewsasia.com
