Where is Europe’s AI boom?
Squint, and it’s showing up in the data.
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In September, machinery output in the Netherlands was 43% higher than a year ago, spurred on by the success of chip-machine maker ASML.
PHOTO: REUTERS
Soumaya Keynes
As the United States and China vie to win the AI race, the European Union seems unable to make it on to the running track. Its woes include an energy shock, fiscal strain, pressure from Chinese competition and chronic uncompetitiveness. But look a little more closely, and the AI boom is showing up in European data. The bloc is much more than a passive spectator to someone else’s sport.
It is true that Europe is nowhere near winning a top artificial intelligence producer medal. Its tiddly share of the world’s chips mirrors the fact that of the 64 top large language models, just one is European. Some imagine the EU might catch up by spending roughly €800 billion (S$1.14 trillion) over three years to build a frontier model. A bit like how I dream of becoming an Olympic sprinter as I plod around parkrun.