In May 2020, the European Commission proposed a €750 billion pan-EU stimulus plan to help Europe recover from the worst economic crisis in decades. Part of that recovery plan will involve significant investment directed towards AI research and development, as well as other high-tech investments such as 5G and renewable energy.
McKinsey Global Institute estimates Europe could see a GDP boost of between €2.7 and €3.6 trillion by 2030 (a roughly 25% increase) through the roll-out of AI technology. However, as things stand, the EU risks falling behind in the global race to develop AI technology.
At the same time, some Europeans are concerned about the risks of AI (such as the impact on the labour market, or the privacy implications of facial recognition software). In February 2020, the Commission published its White Paper on Artificial Intelligence, aimed at promoting AI across Europe while addressing the risks. Does Europe have the right approach to AI? How can it avoid falling behind other regions of the globe? And how can AI transform Europe’s economy in a sustainable fashion as we look to exit the crisis?
On Wednesday 1 July 2020 at 09:00 CEST, Debating Europe streamed a debate on the role of Artificial Intelligence in the European economic recovery. We put questions and comments sent in from our readers to a panel of experts.
Taking part on the panel:
- Axel Voss, Member of the European Parliament (EPP, Germany)
- Matt Brittin, President, EMEA Business & Operations, Google
- Luisa Franceschetti, CEO, Saccheria Franceschetti
- Andrea Renda, Senior Research Fellow and Head of Global Governance, Regulation, Innovation & Digital Economy (CEPS)
Europe’s economic recovery: Should AI lead the way? What role should Artificial Intelligence play? Let us know your thoughts and comments in the form below and we’ll take them to policymakers and experts for their reactions!
IMAGE CREDITS: Photo by Brett Jordan on Unsplash
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