Europe a century ago was a global powerhouse of innovation, but it has started to lose its edge: today, despite some notable exceptions, many innovative companies are found elsewhere. Europe is falling behind in growing sectors as well as in areas of innovation such as genomics, quantum computing, and artificial intelligence, where it is being outpaced by the United States and China. A discussion paper from the McKinsey Global Institute (MGI), suggests five paths that could help the continent regain its competitive edge. The paper, Innovation in Europe: Changing the game to regain a competitive edge (PDF--395KB), focuses on ways that Europe could seek to build on its strengths rather than trying to play catch-up, given that it is hindered by fragmentation and lack of scale. This article is a condensed version of the original paper, which draws from MGI research as well as from a recent collaboration with the World Economic Forum. Given Europe's relatively high wage costs and low reliance on natural resources, innovation remains of fundamental importance for the continent's economic and social system. European companies still account for one-quarter of total industrial R&D in the world, but over the past ten years US companies have continued to increase their share, reinforcing their leadership position.
The US remains the global leader in artificial intelligence (AI) innovation, despite big moves by China to change its standing, according to a study from the Center for Data Innovation, released this week. The study focused on six distinct categories--talent, research, development, adoption, data and hardware--and found that the US was far ahead of both China and the European Union in at least four of them. With the help of Amazon, Apple, Facebook, Google, Intel and Microsoft, the US was able to financially dominate the last wave of digital innovation. But China has doubled down on its efforts to become equals with the US and now invests heavily into educating and funding AI research. SEE: IT leader's guide to deep learning (Tech Pro Research) "The United States is leading in AI today, but it should not rest on its laurels," Michael McLaughlin, the Center's research analyst and the report's lead author, wrote in the study.
When people hear about the race for Artificial Intelligence (AI) dominance, they often think that the main competition is between the US and China. After all, the US and China have most of the largest and most well funded AI companies on the planet, and the pace of funding, company growth, and adoption doesn't seem to be slowing anytime soon. However, if you look closely, you'll see that many other countries have a stake in the AI race, and indeed, some countries have AI efforts, funding, technologies, and intellectual property that make them serious contenders in the jostling for AI dominance. In fact according to a recent report from analyst firm Cognilytica, France, Israel, United Kingdom, and the United States all are equally strong when it comes to AI, with China, Canada, Germany, Japan, and South Korea equally close in their AI strategic strength. AI startups are raising more money than ever.
Artificial intelligence (AI) is a technology which is increasingly being utilised in society and the economy worldwide, and its implementation is planned to become more prevalent in coming years. AI is increasingly being embedded in our lives, supplementing our pervasive use of digital technologies. But this is being accompanied by disquiet over problematic and dangerous implementations of AI, or indeed, even AI itself deciding to do dangerous and problematic actions, especially in fields such as the military, medicine and criminal justice. These developments have led to concerns about whether and how AI systems adhere, and will adhere to ethical standards. These concerns have stimulated a global conversation on AI ethics, and have resulted in various actors from different countries and sectors issuing ethics and governance initiatives and guidelines for AI. Such developments form the basis for our research in this report, combining our international and interdisciplinary expertise to give an insight into what is happening in Australia, China, Europe, India and the US.