Europe in the AI "race"! (part 2)

In navigating AI technologies, during the last +7 years, within my business, Graypes GmbH, the palpable underrepresentation of Europe in the AI landscape becomes glaringly apparent. Morever, during my recent visit to Davos for the World Economic Forum 2024, the deficiency in EU technological prowess in AI was unmistakable, in contrast to the robust regulatory framework. 

The US is the global leader in AI, both in terms of research and development, and in terms of adoption and implementation. 

👍 According to a 2022 report by the World Economic Forum, 84% of the top 50 tech companies in the world are based in the US, and the US accounts for 40% of the global AI market. 

👍 The US also has a strong military and intelligence presence in AI, and it has been investing heavily in AI for national security and defense purposes

Europe is trailing behind the US and other regions, such as China and Asia-Pacific, in AI. 

👎 According to the same report by the World Economic Forum, Europe only accounts for 15% of the global AI market, and only 8% of the top 50 tech companies in the world are based in Europe. 

👎 Europe also faces various challenges, such as a fragmented market, a lack of talent and investment, and a more cautious and skeptical attitude towards AI and innovation

👎 Europe is lagging behind in AI, and it needs to foster a more entrepreneurial and collaborative spirit, and a more positive attitude towards innovation and success.

💡 To my opinion, there is one and only one cultural difference: Europe and European leaders model AI as a medieval cathedral, while the US is creating a "rock band".

The Cyclyst