Generative AI is heralded as game-changing, and quite frankly, I believe it. A possible €1.4 trillion boost to the EU's GDP by 2034 is a huge amount and is quite significant because as much as 61% of ALL jobs can see boosts in productivity due to augmentation from AI.
It is not about replacing workers, it's about giving the workers more tools to do more, which they can also do faster and even better.
I can attest to the fact that if some tasks get automated, then that eventually frees me to focus on the things that actually matter: tasks that require creativity and human judgment.
The fact that already 74% of workers are reporting productivity gains from AI says a lot. We are talking about very real and very measurable benefits, not just some theoretical ones. And that extra free time created by automation? It may just lead to new roles, new industries, and more fulfilling jobs. It's an opportunity where people can reskill and get jobs that more align with their passions or strengths.
Europe has been lagging behind in innovation and should therefore use this very moment to make up ground: With the U.S. and China sweeping ahead, it cannot continue to play it safe.
I agree that regulations are need, but they should foster and not stifle innovation. Tech companies and entrepreneurs are literally crying out for a more flexible framework that would cater to growth while at the same time ensuring safety and transparency.
Generative AI offers Europe, firstly, an aptly timed golden opportunity to stake a place for itself in the global technological landscape. It must act smart while making smart investments and balanced regulations to gain massively there.