Europe’s Deep Tech Investment: Paving the Way to Technological Independence

Europe is working to achieve tech independence. It is investing a lot in deep tech sectors. The European Union (EU) plans to invest €50 billion in artificial intelligence (AI). This is part of a larger €200 billion package to boost its AI capabilities.

InvestAI Initiative: A €200 billion commitment

At the heart of this strategy is the InvestAI initiative, launched at the AI Action Summit in Paris. This bold program plans to raise €200 billion for AI investments. Key features of the initiative include:

• €20 billion set aside for building AI gigafactories.

• Construction of large hubs with about 100,000 advanced AI chips.

• Training complex AI models.

• Helping smaller companies access AI innovations.

• Providing powerful computing resources.

European Chips Act: Strengthening Semiconductor Production

The EU has passed the European Chips Act. This law aims to increase semiconductor production in Europe. It complements the EU’s investments in AI. The Act has a budget of about €43 billion. Its goals include:

• Boosting Europe’s global semiconductor production from under 10% to 20% by 2030.

• Lessening dependence on outside suppliers.

• Reducing supply chain risks

• Helping Europe lead in semiconductor technology

EuroHPC Joint Undertaking: Advancing Supercomputing Infrastructure

The EuroHPC Joint Undertaking is investing around €7 billion from 2021 to 2027. This funding will help create a supercomputing infrastructure across Europe. The initiative focuses on:

• Acquiring and using supercomputers from the world’s top five.

• Assisting scientists and industry experts in over 800 areas.

• Creating a strong and innovative supercomputing ecosystem.

This will boost Europe’s tech independence.

Challenges and the Path Forward

Despite these large investments, Europe faces challenges in certain technological domains. For example, the continent is behind in rolling out 5G networks. The U.S. and key Asian economies have moved faster. Industry leaders attribute this to a fragmented telecommunications sector. This fragmentation has hurt investment and slowed down infrastructure development.

Vodafone’s merger with Three seeks to fix these issues. It will create the scale needed for large investments in 5G infrastructure.

Europe’s deep tech investments require strong execution. They also aim to boost innovation in member countries. The EU plans to cut red tape and encourage teamwork. This will be key to unlocking the full potential of these initiatives.