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.