NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Over a third of EU firms adopt AI, bringing digital goals in reach

Published 01/02/2024, 06:19
Updated 01/02/2024, 06:21
© Reuters. FILE PHOTO: AI Artificial intelligence words, miniature of robot and EU flag are seen in this illustration taken December 21, 2023. REUTERS/Dado Ruvic/Illustration//File Photo
AMZN
-

STOCKHOLM (Reuters) - More than a third of European businesses adopted artificial intelligence in 2023 as use of generative AI surged, a report commissioned by Amazon (NASDAQ:AMZN) Web Services found.

The European Commission, the EU executive, in 2021 presented its 2030 Digital Decade vision to transform the region, with 80% of the population acquiring basic digital skills, 5G connectivity everywhere and 75% of EU companies using cloud services.

In 2022, however, only a quarter of EU businesses had adopted AI and a report last year estimated the European Union was at risk of falling behind its Digital Decade goals by ten years unless the governments focused on bridging the skills gap.

"Last year was pivotal; from Malmo to Milan, the accessibility of generative AI created an appetite for experimentation among consumers and businesses," Tanuja Randery, Managing Director at AWS, told Reuters.

"The accelerated uptake of AI last year has helped put Europe on track to meet its Digital Decade goals," she said.

© Reuters. FILE PHOTO: AI Artificial intelligence words, miniature of robot and EU flag are seen in this illustration taken December 21, 2023. REUTERS/Dado Ruvic/Illustration//File Photo

The survey conducted by Strand Partners of over 16,000 citizens and 14,000 businesses found 38% of companies were experimenting with AI.

The report estimated the positive economic impact of AI at an additional 600 billion euros, on top of an earlier estimate of 2.8 trillion euros.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.