Global competition is intensifying and Europe is taking measures to deepen its innovation and risk-taking capability to compete in global markets increasingly defined by new technologies. The European Innovation Council (EIC) will help turn Europe’s scientific discoveries into businesses that can scale up faster. Currently in its pilot phase, the EIC will become a full-fledged reality from 2021 under Horizon Europe, the EU research and innovation funding programme for 2021–2027.
Automation boosts labor productivity, which is key to long-run economic growth. A new study examines the impact of automation on labor productivity in nine manufacturing industries across 12 European countries from 1995 to 2005, comparing the number of robots in use in an industry with the amount it invests in non-ICT capital.
Europe must harness the power of digital innovation not just to increase economic growth and expand prosperity, but also to address important societal challenges related to the environment, public health, transportation, and other pressing concerns.
ITIF's Center for Data Innovation in Brussels hosted and event that discussed how the EU should modernize the eCommerce Directive so as to protect consumers without unnecessarily hindering innovation.
R&D tax incentives are key to fostering innovation, effectively providing needed public support for research without sacrificing private-sector market incentives. According to a new report by the OECD, the United States is well behind much of the rest of the world in this respect.
In an op-ed for New Europe, Eline Chivot writes that AI can actually help reduce gender bias and improve social fairness in Europe.
Stephen Ezell presented about globalization trends and what Europe must do to turbocharge its digital economy at an event hosted by the Spanish think tank Cercle d’ Economia on October 25, 2019.
Discussions about job losses from automation tend to assume that innovation will overwhelmingly displace low-skill workers. But this view is misguided because it fails to recognize that low-skill jobs are the least profitable for companies to make obsolete.
ITIF's Center for Data Innovation released a new report exploring opportunities to accelerate data-driven innovation in drug development and hosted a panel discussion about the ways data can make drug development faster, more efficient, and lead to new cures.
France’s digital services tax, which other nations also are considering, represents a radical departure from current practice and would greatly complicate ongoing efforts by the OECD to negotiate changes to the international tax regime by 2020.
The United States leads the race for global advantage in artificial intelligence, at least for the time being, with China coming in second and the EU lagging behind. But China is poised to challenge U.S. dominance in coming years as it undertakes bold AI initiatives.
Daniel Castro writes for Euronews, Europe will be left behind in AI if it focuses on ethics rather than developing the best technology.
As Eline Chivot writes for The Local, the German state house decision to ban Microsoft’s Office 365 software is an example of how overly restrictive privacy laws can leave European consumers worse off by making valuable technology off limits.
The UK can simultaneously promote data-driven innovations for all, develop the types of skills required for the digital economy, support the private sector’s use of data to increase productivity, and improve public services through appropriate sharing and use of data within government, as well as between government and the private sector.
If implemented, a proposal on online harms would restrict legitimate content without due process, hurt digital businesses, limit access to information and, by creating state regulation of speech, damage freedom of expression for millions of users.
One year later, there is mounting evidence that the law has not produced its intended outcomes; moreover, the unintended consequences are severe and widespread.
A survey of allied think tanks summarizes what 23 nations and the EU are doing best when it comes to innovation policy, and where there are the greatest opportunities to improve. In many cases, the successes can serve as model policies for other countries to adopt.
As Daniel Castro and Eline Chivot write for European Views, results of recent survey data show that the General Data Protection Regulation (GDPR)—which the EU has touted as the gold standard for data protection rules—has had no impact on consumer trust in the digital economy since it came into force last May.
Offshoring is widely maligned for reducing manufacturing employment in advanced economies. However, by lowering costs and utilizing global value chains, firms that outsource can afford to increase their investments and funding for higher-productivity jobs, making the overall economic implications less clear.
China’s patent output has grown dramatically in recent years, both in terms of the volume of patents submitted for international protection under the Patent Cooperation Treaty (PCT) and in terms of the number of citations those patents receive, a standard measure of a patent’s importance. New research breaking down the sources of those citations raises significant doubts about whether the growth in Chinese patent citations is as meaningful as it appears.
ITIF endorses USTR’s proposed imposition of countermeasures, in the form of additional tariffs, commensurate with what the WTO’s Dispute Settlement Body has found to be adverse effects inflicted on U.S. aerospace competitors as a result of the EU’s WTO-inconsistent subsidy programs for large civil aircraft.
By providing remote access to data storage, processing, and software, cloud computing lets firms easily scale their computing needs and avoid the large fixed costs of IT infrastructure, which allows small firms to operate and expand more efficiently. New research into cloud adoption by firms in the United Kingdom supports this reasoning.
Europe’s success in the global algorithmic economy requires a regulatory environment that is fit for AI but does not reduce consumer protections.
While it may be tempting to focus on the direct job losses caused by robot adoption, it is wrong to conclude that automation constitutes a generalized threat to workers, either in manufacturing or in the broader economy. By choosing to automate, firms can increase their productivity, which allows them to expand and increase their employment.
The Fraunhofer Gesellschaft (FhG), a German nonprofit organization that conducts applied research, started about 6,500 projects per year with private firms between 1997 and 2014, and new research shows the firms reap substantial benefits from the collaboration.