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European Court of Auditors warns EU risks losing the AI race
The European Court of Auditors finds that the European Union has made little progress in developing an Artificial Intelligence (AI) ecosystem and has failed to match the level of investment made by the US and China
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This is among the main findings of a report by EU auditors, who assessed whether the EU’s actions to boost innovation in AI had been sufficient.
The audit found that EU venture capital investment in AI since 2015 has lagged behind that of leading AI regions, namely China and the United States (US).
The auditors said that the overall investment gap in AI between the US and the EU doubled between 2018 and 2020, with the EU falling behind by over €10 billion.
The Member of the European Court of Auditors responsible for the audit, Mihails Kozlovs, warned that if the EU wants to achieve its ambition, the Commission and Member States must “join forces more effectively, accelerate the pace and unlock the EU’s potential”.
Since 2018, the European Commission and EU countries have adopted a coordinated plan to increase investment in AI and adapt existing legislation, with the aim of putting the EU on track to become a global leader in the field.
However, the Court found that the Commission’s actions were not well coordinated with those of the Member States, due to a lack of governance tools and necessary information.
In 2018, the EU plan called on Member States to set out their national AI strategies by June 2019, but only 10 had published their plans by the deadline, five did so later and four still had no strategy by the end of 2023.
The report also noted that the Commission did not have the necessary monitoring tools in place to track the performance of AI investments.
In response to the audit, a European Commission spokesperson pointed to the adoption of the Artificial Intelligence Act (a field not covered by the Court’s analysis) as a tool to “incentivise the development” of AI systems.
See Also: Portuguese AI expert warns of the "consequences" of the new technology (Portuguese version)
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