Europe can't afford to miss AI revolution: ECB chief
Lagarde said 2,500 trade restrictions and fragmented capital markets are slowing Europe’s push to scale AI and other new technologies.
- On Wednesday, European Central Bank chief Christine Lagarde warned Europe "cannot afford to repeat that experience with artificial intelligence," citing the continent's failure to capture gains during the first digital revolution.
- Lagarde noted Europe's post-war growth model relied on "three pillars"—US security guarantees, cheap energy, and global trade—but "all three are weakening as the international environment changes," she said.
- Market "fragmentation" across the European Union prevents firms from competing or raising funds effectively, resulting in "fewer firms growing to global size" compared to companies in the United States and China.
- Relations between the United States and Europe have been shaken by President Donald Trump's return to the White House, where he has questioned security commitments and imposed hefty tariffs on European Union imports.
- European companies invest heavily in artificial intelligence yet face persistent scaling barriers, making a return to the continent's previous growth model "unlikely to return to the form we once knew," Lagarde added.
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43 Articles
The World Economic Forum continues to try to convince Christine Lagarde to assume the presidency of the organization, an issue discussed at a council meeting this week, according to people on the subject. The President of the European Central Bank (ECB) seems willing to take up the position, the sources said, who asked not to be identified when discussing internal affairs. However, Lagarde wants to make sure that the tensions between the forum a…
The founder Klaus Schwab warns against an Americanization of the meetings in Davos. The leadership question is still open, even if the ECB head Christine Lagarde is regarded internally as "very good candidate".
For months, the French woman has been afraid of a clear commitment to the European Central Bank, which continues to fuel rumours about an early departure, and should finally provide clarity.
Lagarde Is Still Being Pursued by the WEF for Its Top Job
(Bloomberg) -- The World Economic Forum is still courting Christine Lagarde to take over as its next chair, an issue that was discussed at a meeting of the organization’s board this week, according to people familiar with the matter.
Europe must not lag behind in the AI revolution and the economic changes brought about by artificial intelligence. This was stated by European Central Bank (ECB) President Christine Lagarde in a speech at the headquarters of the World Economic Forum in Geneva, Switzerland.
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