Post by AI World

The Banca centrale europea has begun to map AI's footprint on the euro area. Productivity is increasing, but the EU ecosystem is lagging behind. Europe is moving in the right direction on three fronts: => Adoption: euro area worker AI use jumped from 26 to 40 per cent in a year, faster than any prior general-purpose technology => Investment: euro area digital investment is up 60 per cent since 2014, US digital investment more than doubled => Employment: ECB evidence finds AI raised firm productivity 4 per cent with no adverse effect on jobs Dependence however, remains an open question. Euro area payments for US-located intellectual property rose fivefold in a decade, and the main AI used in the EU are US based. At its core, the problem is one of scale. Close to 30 per cent of European unicorns founded between 2008 and 2021 relocated abroad. The ECB has measured the adoption gap. We at AI World track the ecosystem behind it, where investment, research and patent flows go. Credit to Philip R. Lane and the team of the ECB for putting European productivity on structural rather than rhetorical ground. Malin Andersson, Oscar Arce, Jeanne Beck, Elena Bobeica, Leonardo George Carrai, Claus Brand, Katarzyna Budnik, Kai Christoffel, Antonio Dias da Silva, Paola Di Casola, Maximilian Freier, Johannes Groß, Valerie Jarvis, @Gerrit Koester, Laura Lebastard, Noëmie Lisack, Paloma Lopez-Garcia, Falk Mazelis, Peter McQuade, Alexandros Melemenidis, Carlos Montes-Galdon, Ph.D., Roberto Motto, Richard Morris, Giulio Nicoletti, Lluís Quintana Noriega, Judit Rariga, Stefan Schaefer, Martin Schmitz, Enrico Sette, David Sondermann, Marcel Tirpak and Dennis Zander. #AIpolicy #EUTech #AIAdoption