A third of European businesses have adopted AI, a 32% growth rate since last year which, if maintained, could contribute an additional €600 billion in gross value added (GVA) to the European economy by 2030.
This €600 billion is a figure equal to the value of the European construction industry, according to the independent report Unlocking Europe’s AI Potential in the Digital Decade, conducted by Strand Partners and commissioned by Amazon Web Services (AWS).[1] If realised, it would bring the estimated total economic impact of tech adoption in the region to €3.4 trillion by 2030, an increase from last year’s forecast of €2.8 trillion.
However, the report suggests that to unlock AI’s full potential, countries across Europe must tackle three critical issues: creating a pro-innovation environment; addressing Europe’s digital skills gap; and ensuring businesses of all sizes have access to the latest technologies.