{
  "id": 8879510,
  "title": "Europe cannot afford to miss AI transformation, with fiscal dividend within reach, OECD chief says",
  "url": "https://urgent.news/2026/09/21/europe-cannot-afford-to-miss-ai-transformation-with-fiscal-dividend",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-21T08:09:35.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/my-europe/2026/09/21/europe-cannot-afford-to-miss-ai-transformation-with-fiscal-dividend-within-reach-oecd-chie"
  },
  "original_language": "en",
  "account": "Europe cannot afford to overlook the AI transformation, as the Organization for Economic Co-operation and Development (OECD) chief highlights the immense fiscal dividend that lies within reach. Missing this opportunity could result in stagnating growth and increased burden on public services due to an aging population. To seize this chance, Europe must act swiftly and decisively, addressing several key factors.\n\nFirst, Europe needs to invest in the necessary infrastructure, such as data centers, reliable and affordable power, and fast networks. Accelerating the permitting process and improving the integration of Europe's electricity market will be essential in facilitating the flow of power where it is needed. This requires a genuine capital markets union that will channel European savings into infrastructure projects and provide young, innovative firms with the risk capital they need to scale.\n\nSecond, ensuring access to AI tools is crucial. Small and medium-sized enterprises (SMEs) employ most Europeans, and they require affordable AI tools, trusted guidance, and a single market where products developed in one member state can be sold across all 27. Expanding AI adoption among SMEs will create a ripple effect, benefiting larger firms and the overall economy.\n\nThird, investing in people is essential to facilitate faster AI adoption. The primary reason firms do not adopt AI is the lack of skilled personnel to utilize it effectively. While many workers across the OECD already employ generative AI tools, further training is needed to ensure that those with low literacy, who are less likely to participate in AI-related training, are reached. Employers should also receive incentives for investing in employee training, and individual learning accounts could be implemented to help workers transition from one job to another.\n\nRegarding job displacement concerns, data from OECD surveys do not support the notion that AI will lead to mass unemployment. Instead, sectors exposed to AI have seen an increase in job postings rather than reductions. The impact on young people is currently limited, and proactive measures such as targeted training and employment services can help prepare workers for the changing job market. Furthermore, AI itself can make training more efficient, resulting in shorter, more targeted, and accessible learning experiences.\n\nIn conclusion, Europe must manage AI risks related to privacy, safety, cybersecurity, and financial stability while embracing the potential benefits of AI. By building the necessary infrastructure, ensuring access to AI tools, and investing in people's skills, Europe can unlock the fiscal dividend offered by AI and generate the revenue needed to fund public services and support its aging population without relying on higher taxes or increased debt.",
  "summary": "AI offers a major opportunity to boost productivity, wages and living standards, but only if Europe moves quickly to support its adoption, writes OECD Secretary-General Mathias Cormann.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}