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As Spotify, iZettle and Skype have shown, success breeds more success. Europe is flourishing in terms of access to later stage capital, and an ecosystem required to support startups on their journey. Fintech, healthtech and social impact are just some verticals showing huge promise. But what worries me is that Europe hasn’t gotten its act together on AI – our companies risk getting crushed by the giants in US and China. We urgently need Europe’s governments to form long-term strategies around AI, while stepping up investment into education and basic research. The future is at stake.
Regulation is failing to keep pace with new technologies and business models, and the risk of overbearing regulation suffocating smaller companies remains very real. In the coming years, further balkanisation of regulatory regimes could create opportunities for some European companies, but at the cost of limiting the overall growth of the sector.