RHL Ventures’ Post

Big Tech is rewiring the world. These very large private companies, rooted in research and development (R&D), now wield unprecedented and unparalleled influence on production and consumption relations. They command vast resources, attain granular reach and wield informational leadership in the expansive ecosystems and elite technologies they operate. They have established important positions as intermediaries in the socio-cultural, political, and science domains of regions like Europe. In just one year, the top 5 Big Tech invested in R&I more than twice the funding allocated by the EU-27 to the Horizon Europe 2021-2027 programme. In this redefined world, Europe faces a number of agenda-setting questions. Will the regulatory framework deliver? Should Big Tech be broken up or standards relaxed? Should national and supra-national authorities foster alternative ventures capable of operating at global scale and scope thereby challenging the dominance of the USA (and China)? Alternatively, should policy makers prioritise an economic fabric full of smaller enterprises that are locally creative and dynamic? This policy brief aims to anticipate the implications of ‘Big Tech’ for Europe’s future by 2040. The in-depth exploration adopts the format of a scenario exercise, with a focus on R&I policy.

The European Commission published a foresight report on the future of Big Tech in Europe, focusing on implications for research and innovation (R&I). The publication follows a scenario-based approach, from which it draws different conclusions formulating policy recommendations concerning the EU’s R&I policy. The policy brief projects scenarios as far as 2040. The report then presents four different scenarios, showing how some current trends around Big Tech could develop over the next two decades. These scenarios are presented without any reference to desirability or likelihood, solely serving as strategic habitats for deriving policy options. This approach aims to show how EU policies might have to be changed to avoid or anticipate some of the outcomes described in the respective scenarios. The main conclusions of this report, outlined as policy recommendations cross cutting all scenarios mentioned, are that the European Union must prioritise developing its own tech leaders alongside regulatory efforts. The report suggests benchmarking EU and national R&I budgets against both historical performance and strategies employed by global tech giants. It further emphasises the need for significant ‘big bet’ investments in Europe, coupled with an experimental approach fostering serendipitous breakthroughs in technology and research. #forsight #futures #BigTech #scenarios #Innovation #policy

Great to see a focus on both innovation and regulation in this report. By benchmarking R&I budgets and fostering experimentation, the EU can stay ahead in the tech race while ensuring responsible development. #AI #FUTUREEngine #DueDiligence #generativeai #chatgpt #gpt4 #llms #ainews #technews #ai #generativeai #artificialintelligence #artificialintelligenceforbusiness #artificialintelligencetechnology #business #investment #investmentmanagement #investmentstrategy #realestate #realestateinvesting #realestateinvestment #europeancommission #europeanunion #europe #bigtech #researchandinnovation #policy #future

Interesting to read!

Interested in European tech and EU Policy? Then read European Tech Alliance's (EUTA) President's thoughts on these themes - or better yet, join us shortly as we launched EUTA's Manifesto ahead of the upcoming European elections: https://lnkd.in/emmy54Dy

We, at European Data Compliance Network EUDCN, following closely the launch of the European Tech Alliance's Manifesto for 2030 Europe's future digital policy. In the comments there are links to today's launch event and to the EUTA's Manifesto itself Victoria de Posson Nathalie Laneret #EUTechManifesto #future #eudigitalpolicy

With $3tn in value created, European tech is just getting started. At our last Pulse Conference, we discussed how maturing ecosystems, increased global attention, and a growing ambition to build globally competitive companies puts Europe in prime position to rival Silicon Valley. Do you agree? ⬇ Learn more: https://lnkd.in/dwgmTNyn

The European Commission recently released a foresight #report entitled "Futures of Big Tech in Europe", focused on Big Tech's unprecedented influence on production and consumption relations. 🔍"Europe faces several epoch-making questions. Will the regulatory frameworks deliver? Should Big Tech be broken up or standards be relaxed? Should national and supra-national authorities foster alternative ventures capable of operating at a global scale and scope? Or should #policymakers prioritise an economic fabric full of smaller enterprises that are locally creative and dynamic? This #policy brief uses a scenario approach to sketch the implications of Big Tech for Europe’s future by 2040." 👉 Original source at https://lnkd.in/dVmWCuQd #EU #Europe #technology #innovation #foresight XRSI XRSI-Europe Luis Bravo Martins Alina Kadlubsky Andrea Panero Geymet Oliver D'Adda April Boyd-Noronha, SSAP, MBA Kavya Pearlman ⚠️ Safety First ⚠️ Bhanujeet Choudhary

#aiadoption #aieducation #aichallenges #tools Key Conclusions: * Europe must develop its own technological leaders instead of solely regulating foreign Big Tech. * EU and national R&D budgets should be benchmarked against Big Tech's spending. * Significant, experimental investments are crucial for fostering innovation and competition in Europe. Action Items: * Strengthen competition supervision and technology regulation at both national and EU levels. * Support education and research spending beyond current fiscal constraints. * Establish collaborative initiatives with the Global South and promote innovation hotspots within Europe. Risks: * Dependence on foreign Big Tech could undermine Europe's digital sovereignty. * Inadequate investment in R&D may leave Europe lagging in global tech leadership. * Failure to adapt regulatory frameworks could inhibit the growth of domestic tech companies.

Ahead of the launch of our #EUTechManifesto, our President Kristin Skogen Lund shares her thoughts on “How to get tech right in Europe” in POLITICO Europe 📰 “As our societies navigate challenging times and undergo widespread digital transformation, fostering growth in our home-grown tech businesses has never been more critical to achieving the wider goals of the European project.” Read the full article here 👇 https://lnkd.in/eAu3NFku