Europe could pay part of the bill for the artificial intelligence boom in the United States without benefiting equally from the resulting growth, European Central Bank (ECB) President Christine Lagarde warned today.
The ECB president referred to the phenomenon known as the "sovereignty premium," meaning the possibility that Europeans may end up financing technologies that will then be controlled by other jurisdictions, without economic and innovation benefits being distributed equitatively.
Christine Lagarde issued this warning during a public speech, noting that massive investment in artificial intelligence in the United States could generate significant returns for the American economy, while Europe may find itself in a position of technological dependency.
The issue raises concerns about European strategic autonomy and the need for homegrown investment in artificial intelligence technologies, so that the continent is not merely a passive financier of a technological revolution whose advantages are concentrated primarily in the United States.
