Europe must build own AI or risk getting cut off by US or China, says ECB’s Lagarde

The European Central Bank's president, Christine Lagarde, has warned that Europe's dependence on artificial intelligence (AI) technology from the US or China could give its trade partners significant leverage in negotiations. This vulnerability could lead to Europe being cut off from essential AI tools and data, potentially disrupting its economy. Lagarde believes that Europe needs to develop its own AI models and build domestic datacentres to reduce its reliance on foreign technology.

Why it matters

The ECB chief is signalling the need for Europe to develop its own AI technology. This could lead to increased investment and innovation in the European tech sector.

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