Die Welt: Europe Does Not Have Any Ideas Except for Punishing US-Companies
An article published in the German weekly ‘Welt am Sonntag’ quoted Arago CEO Chris Boos. The article discusses the future of digitalization and artificial intelligence in Europe and the world in light of the recent €2.42 billion penalty against Google by the European Commission. Although clearly the fine does not put an existential threat on the company, this case epitomizes a global trend in digitalization.
For a long time, the digital innovation market was largely dominated by Silicon Valley companies. Having been outsmarted by US companies in the first wave of digitalization, European companies are trying to ride the wave in the upcoming second phase. Against this backdrop, Chris Boos strongly argues against too tight regulation of digitalization in Europe that might impede new European companies to enter the market.
Today already, many EU companies are compatible in terms of intellectual capacity. Yet, Chris Boos also criticizes the lack of courage in Europe to actually put innovative technology to concrete use – instead of marketing it abroad. What we need, he says, is a climate of courage and resiliency. Also, to make Europe more competitive, he stresses that additional money alone will not solve this problem but potentially exacerbate the situation. Whereas a shortage of resources might free up creative potential.
Click here for the article (German version).