Artificial intelligence (AI) and blockchain technologies are poised to transform societies and economies, and their potential impact cannot be ignored. However, the European Union currently accounts for only 7% of annual equity investments in AI and blockchain, while the US and China dominate with 80% of the investments. This situation calls for action to bridge the investment gap and accelerate the development and deployment of these technologies in the EU.
At the BESIDE project, our mission is to support financial sector professionals in staying at the forefront of industry advancements, particularly in blockchain technology for digital financial services. Through our Erasmus+ funded project, we offer a pilot course and e-learning platform designed to equip participants with the necessary knowledge and skills to enhance their digital capabilities and deliver high-quality services to their clients. Our objectives align with the priorities of digital transformation and vocational education and training, ensuring professionals are well-prepared for the digital age while adhering to EU policies.
The recent report conducted by the European Investment Bank and the European Commission sheds light on the challenges faced by the EU in the development and application of AI and blockchain technologies. The study identifies key areas for improvement, including development, market deployment, and the wider innovation ecosystem. It is clear that Europe needs to tap into its leading role in high-quality research and its vast pool of digital talents to close the investment gap and drive progress in these transformative technologies.
To address this gap, the European Commission and the European Investment Bank have taken significant steps to advance AI and blockchain in Europe. Funding programs such as Horizon 2020 and the Digital Europe Programme have been dedicated to supporting these technologies, with billions of euros allocated for investment and fostering their use by businesses and public administrations. The launch of co-investment facilities and dedicated investment schemes further demonstrates the commitment to bolstering AI and blockchain initiatives.
For more info on the report visit: https://www.eib.org/en/publications/online/all/ai-blockchain-and-future-of-europe-report
For the full report: https://www.eib.org/attachments/thematic/artificial_intelligence_blockchain_and_the_future_of_europe_report_en.pdf
We invite financial professionals, organizations, and stakeholders to join us in this endeavour. By actively participating in the BESIDE project, you can stay ahead in the digital age, enhance your digital capabilities, and contribute to the wider adoption of blockchain technology in the financial sector.
Let’s seize the potential of AI and blockchain technologies together, and drive Europe’s green and digital transitions. By closing the investment gap, fostering innovation, and leveraging our collective expertise, we can shape a future where blockchain and AI create positive societal and economic impact. Visit our website to learn more and take part in this transformative journey.