ECB President Lagarde warned Europe must not fall behind as AI reshapes the global economy. Speaking at the World Economic Forum in Geneva, she cited survey data showing euro-area firms plan to allocate roughly 9% of total investment to AI this year.

2026-08-19

ECB President Lagarde warned Europe must not fall behind as AI reshapes the global economy. Speaking at the World Economic Forum in Geneva, she cited survey data showing euro-area firms plan to allocate roughly 9% of total investment to AI this year. Lagarde said Europe largely missed the first digital revolution because the commercial gains from ICT diffusion accrued disproportionately elsewhere and warned Europe must not repeat that mistake with AI.