The presidents of Ericsson and Nokia, Börje Ekholm and Pekka Lundmark, today inaugurated the summit “A New Industrial Ambition for Europe,” which brings together European technology leaders, including ASML and SAP, to promote strategic actions that ensure the continent’s digital leadership.
The event, held in Brussels, highlights the urgent need to adopt a favorable regulatory environment that is attractive to investors, following the recommendations of the Draghi and Letta reports, which provide a clear framework to strengthen European competitiveness in the technology sector.
Europe: Challenges and Opportunities
Europe faces significant challenges in the technology sector, with a €450 billion deficit in R&D and capital training compared to other regions like the United States and China. This translates to a 20% annual productivity disadvantage, according to data presented at the summit.
Henna Virkkunen, Executive Vice President of the European Commission for Technological Sovereignty, emphasized that digitalization is essential for the continent’s economic growth and resilience, stressing the need for reliable and secure networks as the foundation for future innovation.
The Call to Action
During the summit, Ekholm and Lundmark made a strong call to implement the Draghi and Letta reports, which include recommendations such as:
- Encouraging investment in key technologies like AI, advanced connectivity, and semiconductors.
- Reducing regulatory fragmentation and establishing a stronger digital single market.
- Expanding the implementation of the 5G Toolbox, ensuring reliable and secure networks.
- Promoting consolidation in the telecom sector to compete globally.
Pekka Lundmark warned that Europe is losing ground to other regions and highlighted that “European competitiveness is already one foot in the grave.” However, he expressed optimism about the continent’s ability to turn the situation around if action is taken quickly.
Technological Collaboration as the Key to Success
The event marked the first collaboration between Ericsson and Nokia in an industrial vision initiative, highlighting the importance of cooperation among European leaders. Christian Klein, CEO of SAP, stated that “digitalization across all sectors will bring growth and greater productivity for Europe.” Meanwhile, Christophe Fouquet, CEO of ASML, emphasized the need for a regulatory and political framework that enables Europe to compete in a dynamic global environment.
Conclusion
The summit underscores the urgency of adopting concrete measures to ensure that Europe not only maintains its position in key sectors like advanced connectivity and semiconductors but also leads the next wave of technological innovation. The leaders present agreed that immediate action is crucial to guarantee the digital and economic prosperity of the continent.
Europe has a unique opportunity to consolidate its role in the global digital economy. However, achieving this will require bold strategic decisions and agile implementation of existing recommendations.
via: Ericsson