Priority Areas / Recommended Actions Sample Clauses

Priority Areas / Recommended Actions. To boost the ambition of becoming a global leader in AI, several areas for action are critical for Europe to be addressed. Ecosystem creation: The creation of a healthy and dynamic European AI ecosystem, which will connect and include researchers, business domains, technical domains and existing AI-related communities, is crucial for Europe. It will (1) assemble, xxxxxx and grow the European AI community of stakeholders, (2) enable the collaboration across technological challenges for fostering innovation, business and research, (3) create technology services and business opportunities, (4) provide benefits to society and economy while respecting European values. Start-ups: Whatever the domains or market segments Europe decides to focus on, the tools to build a striving AI industry are the same as anywhere else. In particular, start-ups becoming large companies are going to be necessary to 1) Optimise existing processes, products and services and 2) To create new ones. Only betting on existing players, even if they are thriving today, would be a significant mistake; Europe should not be afraid to create innovative competition even to its incumbent players. Europe needs to support start-ups in 1) Selling their offering and in 2) Developing a promising exit strategy. - To facilitate start-ups to access the European market (to sell their products), the “European” mindset has to be changed. Things are changing with corporate funds being created by major European players, but too slowly and in insufficient proportion. Innovative incentives and instruments must be found to change the landscape. They must be targeted toward the C-level people in major European companies, to accelerate the “start-up question" into a vital strategic topic. One can think for example of a mixture of incentivising public funding and tax instruments. - To create a flourishing market for start-up acquisition (and large enough IPOs) in Europe, a first and significant effort must be made. Again, a combination of public funding and tax incentives that would involve the European stakeholders could be a solution. To properly design and carry out this policy, it is necessary to put all the stakeholders around the table: policymakers, large and small existing companies; on the strict start-up side one often thinks of VCs. However, this is not sufficient: the leading resource will be the entrepreneurs themselves, in particular, those who have had their first success with a venture, and who have...
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Related to Priority Areas / Recommended Actions

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