ECB President Lagarde delivered a speech on September 14 in Vienna on the theme “A New Era of Capital: Growth, Sovereignty, and Artificial Intelligence”. She pointed out that households in the Eurozone hold about 440 billion euros in US technology assets, and a large amount of European capital flows to American AI. Europe's AI penetration rate is over half, but digital investment lags behind the US. The popularization of AI is expected to increase productivity by up to 4% within ten years and ease the financial pressure brought about by aging. Lagarde warned that simply importing AI poses the risk of losing data, supply cuts, and technical supremacy. Europe needs to build its own computing power, up to 600 billion euros to fill the gap, and develop local AI models. She said that European science and innovation financing relies too much on banks, that there is no shortage of local savings, but there is a lack of channels to channel capital, and suggested that there is a risk of a bubble in AI construction in the US.

ECB President Lagarde delivered a speech on September 14 in Vienna on the theme “A New Era of Capital: Growth, Sovereignty, and Artificial Intelligence”. She pointed out that households in the Eurozone hold about 440 billion euros in US technology assets, and a large amount of European capital flows to American AI. Europe's AI penetration rate is over half, but digital investment lags behind the US. The popularization of AI is expected to increase productivity by up to 4% within ten years and ease the financial pressure brought about by aging. Lagarde warned that simply importing AI poses the risk of losing data, supply cuts, and technical supremacy. Europe needs to build its own computing power, up to 600 billion euros to fill the gap, and develop local AI models. She said that European science and innovation financing relies too much on banks, that there is no shortage of local savings, but there is a lack of channels to channel capital, and suggested that there is a risk of a bubble in AI construction in the US.