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AI & Blockchain: European Investment Bank warns of EUR 10bn funding gap

| 2021-06-02 < 1 min read

AI & Blockchain: European Investment Bank warns of EUR 10bn funding gap

Reading Time: < 1 minutes

European investments in artificial intelligence (AI) and blockchain technologies are way behind Chinese and American investments. In a report related to such competition, the European Investment Bank (EIB) has concluded that the EU has an annual investment shortfall of up to EUR 10 billion.

The EIB reports that China and the US account for 80% of the EUR 25 billion in equity investments in the two technologies combined. In comparison, the EU only accounts for 7% of the total investments, at EUR 1.7 billion. Between 2010 and 2019, the report continues, global equity investments in AI and blockchain technologies grew at an average of 38%, to EUR 80-85 billion.

These technologies are not only relevant by themselves, as the EIB suggests they will play a central role in the EU’s green and digital transitions. They will also help in speeding up the transformation of sectors hit hard by Covid-19, such as financial services, healthcare, and business intelligence.

Read the full report