the vast majority simply license tools created abroad like in the US, the report said, adding that Lagarde warned that this dependence leaves the entire European economy exposed if access is suddenly rescinded or terms are rewritten While businesses across Europe have poured money into AI. European Central Bank president Christine Lagarde has delivered a stark warning, stating that Europe must evolve into a direct developer of artificial intelligence (AI) rather than remaining a customer dependent on foreign technology. Addressing an audience in Vienna, Lagarde stressed that building sovereign capability is vital to safeguarding the continent’s independence and capturing the productivity surges required to sustain its standard of living, as per a report by news agency Reuters.
Lagarde projected that within a few years, machine learning models will touch nearly every facet of daily public life and administration.