The EU AI Champions Initiative was officially launched a few days ago. At the AI Action Summit in Paris, more than 60 leading European companies from start-ups and established corporations joined forces to position Europe as a global pioneer in the development and application of artificial intelligence (AI).
Aim of the EU AI Champions Initiative: Establishing Europe as an AI leader
For the first time, European business and technology leaders are joining forces with political decision-makers to create a clear, ambitious framework for AI in Europe. To enable the development and adoption of AI in Europe, the initiative also aims to work constructively with the European Commission and Member State governments to create a dramatically simplified AI regulatory framework that enables local innovation and global leadership, and to build on existing efforts to develop a comprehensive AI strategy for Europe. The key focus areas are:
- Mobilising talent and capital to accelerate AI adoption.
- Simplifying the regulatory environment to foster innovation in Europe.
- Support European companies through a stable market environment for AI technologies.
- Creating a strong AI infrastructure to ensure Europe's economic competitiveness and technological sovereignty.
Jeannette zu Fürstenberg, Managing Director of General Catalyst, said: "Europe has all the prerequisites for a resilient and competitive AI infrastructure: talent, capital and a strong industrial base. With the EU AI Champions initiative, we need to utilise these resources effectively."
Christophe Fouquet, CEO of ASML, emphasised: "AI, combined with Europe's innovative strength, will shape the next technological era. The initiative promotes collaboration between industry and politics to ensure global leadership."
150 billion euros for AI in Europe
International investors have signalled their intention to invest up to 150 billion euros in Europe's AI sector over the next five years. Capital providers such as Blackstone, CVC, EQT and KKR are planning to channel substantial funds into AI technologies, infrastructures and AI-supported business models.
Report: Europe's path to AI leadership
As part of its engagement, General Catalyst published the report "An Ambitious Agenda for European AI". This report demonstrates the power of collaboration through numerous European case studies, outlines recommendations for a comprehensive European AI strategy, summarising insights from industry leaders and recommendations for policy makers and businesses. While the adoption of generative AI could increase annual productivity in Europe by up to 3% by 2030, the report shows actionable insights with several "lighthouse examples" that demonstrate the transformative power of AI.
The key themes of the report:
- Regulatory simplification: Harmonisation of existing laws for greater clarity and scaling.
- Data harmonisation: Building a secure and innovation-friendly data landscape.
- Acceleration of AI investments: Reducing bureaucratic hurdles and minimising risk for AI funding.
- Infrastructure for AI: Development of uniform standards for energy supply, data centres and networks.
- Education and training: EU-wide campaigns to increase understanding of AI and develop skills.
Europe must act now
The EU AI Champions Initiative calls for Europe to establish itself as a centre for applied AI and to create a clear, pro-competitive framework for AI development. The time for small pilot projects is over - now is the time for decisive implementation and scaling.
About the EU AI Champions Initiative
The EU AI Champions Initiative brings together more than 60 companies committed to making Europe a world leader in the development and application of AI. The initiative aims to create a positive shared vision for Europe by mobilising talent and capital, accelerating the adoption of AI in established industries and increasing the competitiveness of European companies. The initiative's mission also includes fostering a resilient partnership between established companies and technology providers to realise Europe's full potential in the field of AI.
Further information is available at www.aichampions.eu.
