The general director of the Portuguese Business Confederation (CIP), Rafael Alves Rocha, said today that Europe is moving forward “very slowly” in incorporating Artificial Intelligence (AI) into the business fabric.
“The adoption of AI by companies has been gradual but inexorable, this technology has become critical for the success of operations and processes, however Europe is progressing very slowly in incorporating AI into the business fabric”, stated the person responsible at the “B9+ European Digital Summit” conference, organized by CIP in Lisbon.
“It is necessary to create a robust and diversified financing ecosystem in Europe that leverages private investments”, stated the person in charge, remembering that this favorable ecosystem involves “the implementation of a banking union, the unification of the capital market, the dynamization of risk capital and the attraction of capital outside Europe”.
In his intervention, Rafael Alves Rocha also called for regulatory simplification, noting that it is “fundamental to eliminate obstacles to the development and implementation of artificial intelligence in Europe”.
“The combination of efforts between the public and private sectors is essential for companies to take advantage of the potential of artificial intelligence, making it a true engine of innovation and growth in Europe,” he said.
The official also defended the need for financing to “strengthen energy infrastructures and accelerate the electrification of the European economy” and highlighted that “investments in artificial intelligence (AI) are already the main driver of economic growth in the United States, surpassing consumption”.
Considering that the reach of AI is not “fully discernible”, Rafael Alves Rocha asserted that it is clear that “digital technologies are revolutionizing the way companies operate and compete with each other”.
The “B9+ European Digital Summit” conference takes place on the eve of the D9+ meeting, which brings together ministers from European countries that are at the forefront of digitalization and which Portugal presides over.