Europe’s second chance on AI: building an opportunity in factories, labs, and the real economy

Source Domain: fortune.com

Europe has historically played a supportive role in the digital economy, despite its strengths in research and regulatory influence.
The first wave of AI innovation, driven by online chatbots, largely benefited the U.S. and Asia, sidelining Europe in the process.
The emerging AI wave is predicted to pivot towards physical and scientific domains such as robotics, manufacturing, and healthcare, areas where Europe holds significant advantages.
Europe boasts substantial scientific talent, extensive industrial know-how, and robust cross-border collaborative ecosystems that could facilitate the next AI revolution.
The region’s existing industrial base, which is highly automated and data-rich, suggests a fertile ground for AI-driven productivity gains.
While Europe excels in science and industry, its ability to commercialize AI innovations at scale remains a challenge, necessitating improved investment and market pathways.
European policymakers are responding with initiatives, like the €200 billion InvestAI program, aimed at addressing the funding gap and fostering AI-native companies.
The success of Europe’s second AI wave hinges on its ability to present itself as a united front, leveraging its existing strengths to act cohesively on the global stage.

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