European CEOs Call for Investment in AI Infrastructure | PYMNTS.com
Jan 23, 2025 - pymnts.com
President Donald Trump announced a $500 billion investment in AI infrastructure, prompting calls for a similar initiative in Europe. SAP CEO Christian Klein emphasized the need for Europe to enhance its AI capabilities to remain competitive, while Siemens CEO Roland Busch highlighted the necessity for more data centers in Europe. Schneider Electric CEO Olivier Blum stressed the importance of international cooperation on AI, given the global nature of businesses. IBM CEO Arvind Krishna, speaking at the World Economic Forum, criticized the EU Artificial Intelligence Act as overly stringent, advocating for a balanced regulatory approach.
The European Union is preparing to release the Competitiveness Compass report, which will propose strategies to boost competitiveness, including investing in strategic technologies and AI infrastructure, reducing regulation, and improving funding access. The report highlights the need for Europe to invest 800 billion euros annually through 2030 to enhance its competitiveness, a level not seen since the 1970s.
Key takeaways:
President Donald Trump announced a $500 billion investment in AI infrastructure, prompting calls for similar initiatives in Europe.
European business leaders emphasize the need for more data centers and AI implementation to boost competitiveness.
IBM CEO Arvind Krishna criticized the EU Artificial Intelligence Act as too heavy-handed, advocating for a balanced regulatory approach.
The EU plans to release a Competitiveness Compass report proposing investments in strategic technologies and infrastructure for AI.
