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Europe is setting its sights on becoming a leader in Artificial Intelligence applications, even if it can't compete with the US in AI hardware. Tech leaders at the TNW Conference emphasized that Europe needs to capitalize on its existing strengths in application development. The focus should be on building innovative AI applications on top of the AI infrastructure being established by US companies. This strategy allows Europe to leverage the massive investments being made in datacenters, networking, and cloud services by major players like Meta, Amazon, Alphabet, and Microsoft.

The advantage the US has in AI infrastructure could become a launchpad for European software. Europe already boasts successful app companies like Spotify, Grammarly, Revolut, and Klarna, and this presents an opportunity for a new wave of AI-driven applications to emerge from the region. Experts call for financial changes, with a greater risk appetite from investors, less red tape around public funding, and more local procurement. Innovation-friendly regulation is also needed.

The EU is also taking steps to achieve digital sovereignty, acknowledging its dependence on foreign technologies. To reduce reliance on Big Tech, the EU needs real investment in public digital infrastructure. Open Source AI has been identified as a key factor in achieving this, focusing on power, trust, and sovereignty. It emphasizes European culture and values. The European Parliament recognizes that Europe cannot base its digital economy on infrastructures it doesn't control, and must ensure a secure, trustworthy, and innovation-driven digital ecosystem.

ImgSrc: img-cdn.tnwcdn.

References :

• The Next Web: Dutch tech leaders: Europe won’t lead in AI hardware, but can in AI apps

Classification:

• HashTags: #EuropeTech #OpenSource #DigitalSovereignty
• Company: The European Union
• Target: European Startups
• Feature: AI Applications
• Type: AI
• Severity: Informative