Look out Silicone Valley, Europe is coming

Europe is often viewed as a digital laggard, running far behind the frontier-pushing United States and Asia. In fact, according to a new report by the London venture capital firm Atomico, European startups are now taking the lead in artificial intelligence, building new tech hubs, and drawing investment from traditional industrial stalwarts. Last year, a record-setting $13.6 billion was invested in Europe's tech sector, compared with $2.8 billion in 2011. Gone are the days when Europe's "tech" sector largely comprised consumer-oriented e-commerce businesses – often blatant knockoffs of successful US companies. Today, Europe is the home of real pioneering innovation, led by what Atomico calls "deep tech" – the kind of artificial intelligence developed by Google's DeepMind.