{"id":135963,"date":"2023-05-18T03:00:08","date_gmt":"2023-05-18T01:00:08","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=135963"},"modified":"2023-05-15T14:22:03","modified_gmt":"2023-05-15T12:22:03","slug":"artificial-intelligence-blockchain-and-the-future-of-europe","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/artificial-intelligence-blockchain-and-the-future-of-europe\/","title":{"rendered":"Artificial intelligence, blockchain and the future of Europe"},"content":{"rendered":"

Artificial intelligence (AI) and blockchain are two of the most significant disruptive technologies of our time, set to have a major impact on future societies and economies. But the European Union accounts only for 7% of annual equity investments in both technologies, while the US and China together account for 80%. However, the EU excels in research and has the largest pool of digital talents.<\/p>\n

\"inteligencia<\/a><\/p>\n

Artificial intelligence, blockchain and the future of Europe: How disruptive technologies create opportunities for a green and digital economy, a report conducted by the European Investment Bank and the European Commission, recommends that Europe needs to step up its efforts to address the estimated \u20ac10 billion investment gap that is holding back development and deployment of artificial intelligence and blockchain technologies in the EU.<\/p>\n

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What are AI and blockchain?<\/strong><\/p>\n<\/div>\n

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Artificial intelligence<\/strong>\u00a0is the theory and practice of building machines capable of performing tasks that seem to require intelligence. Currently, cutting-edge technologies that strive to make this a reality include\u00a0machine learning<\/a>, artificial neural networks and deep learning.<\/p>\n

Blockchain<\/a><\/strong>\u00a0is a new filing system for digital information, which stores data in an encrypted format. It is a transparent and decentralised way of recording lists of transactions. Data is encrypted and distributed across many different computers, enabling tamper-proof, highly robust databases that can be read and updated only by those with permission.<\/p>\n

Simply put, artificial intelligence may be considered as the \u201cthinking\u201d part, and blockchain as the \u201cremembering\u201d part. Combining the technologies presents opportunities to create new products, services, assets or even forms of governance.<\/p>\n\n\n\n
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Artificial intelligence, blockchain and the future of Europe
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Why Europe needs to close the gap<\/strong><\/p>\n<\/div>\n

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As transversal technologies, AI and blockchain may transform a wide range of sectors and will likely play central roles in the success of Europe\u2019s green and digital transitions, as well as in strengthening its technological sovereignty.<\/p>\n

Without investment, regions lagging behind in the AI race will probably see diminished global market shares in several industries, from finance and e-commerce to manufacturing and mining.<\/p>\n

Investments in research and development (R&D) for AI are also crucial for security and defence, so underinvestment could undermine Europe\u2019s national security. AI is expected to have a significant impact on progress towards achieving the Sustainable Development Goals (SDGs), especially on climate but also on diversity and inclusion, notably \u201cgender smart\u201d technological development.<\/p>\n<\/div>\n<\/div>\n<\/section>\n

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Main findings<\/strong><\/p>\n<\/div>\n

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The report shows that in comparison to major global competitors the EU is falling behind in the development and application of artificial intelligence and block chain technologies. To catch up, however, the EU can build on a leading role in high-quality research and its vast pool of digital talents.<\/p>\n

The study identifies three major areas that the EU needs to address in its artificial intelligence and blockchain landscape. The challenges identified include:<\/p>\n