Europe risks missing the AI "train"/ Lack of investment, old technological systems hinder progress
European companies risk losing ground in the global race to develop artificial intelligence (AI). They are being held back by years of underinvestment and outdated technology infrastructure, according to a new analysis. The report, published by US technology company Cisco, shows that many organizations in Europe lack the technical and financial foundations needed to successfully deploy and implement artificial intelligence.
The company surveyed 8,000 senior IT executives and business leaders. All were responsible for IT strategy in organizations with more than 500 employees operating in 26 different industries. Of these, about 1,500 were representatives of companies from France, Germany, Italy, the Netherlands, Poland, Spain and Sweden.
According to the report, lack of investment and outdated technology are becoming serious obstacles to the development of artificial intelligence. Some of the biggest challenges include increasing workloads for existing systems, a lack of necessary computing capacity (especially GPU units), fragmentation of data systems, and rigid networks that cannot cope with modern technology demands.
Across the seven European Union countries surveyed, 45 percent of respondents expected AI workloads to grow by more than 30 percent over the next three years. However, only 23 percent said they had powerful GPU capabilities. Furthermore, 36 percent said their networks were not equipped to handle the demands of innovation, while only 9 percent described their network as flexible or adaptable.
The report warns that these are early signs that there is a deep gap between European companies' ambitions to develop artificial intelligence and reality. Although almost half of respondents said they have a strategic plan, only 18 percent consider the new technology as the main priority of their investments, compared to 79 percent of the most successful companies globally.
In addition to the lack of infrastructure, the report also raises serious concerns about security. Only a third of respondents in Europe said they are aware of specific threats related to artificial intelligence. Also, only one in four companies has integrated the innovative technology within their broader cybersecurity systems.
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