Improving Europe’s Competitiveness - Role of Open Markets, Emerging Technologies, and Strategic Alliances

That is why we are actively participating in organisations that share our vision: the AI Act at the EU level, the definition of AI at the OECD, the Convention on Artificial Intelligence at the Council of Eu- rope, and the UNESCO Recommendation on the Ethics of Artificial Intelligence. [...] Historical evidence and current data solidify the link between Europe’s AI Strategy and open markets and technological progress, the Single Market underscoring the need for the EU to champion open-market economies while balancing fair Europe finds itself balancing regulatory competition and privacy protection to realize diligence with the urgency of maintaining a the potential of AI and upcoming t. [...] This rapid deployment of a works in the data-driven economy, which are data management solution enabled the imme- intertwined with a deep understanding of mar- diate availability of screening and testing data ket shifts, a willingness to embrace risks, and for patients, allowing for prompt actions to mit- the need to ensure the interoperability of digital igate the virus’ spread and effectively sh. [...] The dominant role of US tech giants in the European Union (EU) and its potential and venture capital firms in driving AI innova- to enhance the EU’s international competitive- tion contrasts with the situation in the EU, where ness. [...] This trend un- AI development in the hands of a few global derscores the urgency for the EU to foster tech giants, potentially limiting the diversity of an environment that not only encourages innovation and the emergence of new players investment in AI, but also supports its de- in the field.2 velopment and deployment across critical sectors.