“The adoption of AI by companies has been gradual yet inexorable; this technology has become critical for the success of operations and processes. However, Europe is advancing very slowly in incorporating AI into the business fabric,” stated the official at the “B9+ European Digital Summit,” organized by CIP in Lisbon.
“Europe needs to create a robust and diversified financing ecosystem that leverages private investments,” he declared, noting that this favorable ecosystem involves “the realization of a banking union, the unification of the capital market, the dynamization of venture capital, and attracting capital from outside Europe.”
In his address, Rafael Alves Rocha also called for regulatory simplification, emphasizing the “fundamental elimination of barriers to the development and implementation of artificial intelligence in Europe.”
“The combined efforts of the public and private sectors are essential for companies to capitalize on the potential of artificial intelligence, making it a true engine of innovation and growth in Europe,” he said.
The official further argued that financing is necessary to “reinforce energy infrastructures and accelerate the electrification of the European economy,” highlighting that “investments in artificial intelligence (AI) are already the main driver of economic growth in the United States, surpassing consumption.”
Considering that the full reach of AI is “not fully discernible,” Rafael Alves Rocha asserted it is clear that “digital technologies are revolutionizing the way companies operate and compete with each other.”
The “B9+ European Digital Summit” conference takes place on the eve of the D9+ meeting, which brings together ministers from European countries at the forefront of digitalization, chaired by Portugal.
