Airlines Push for Europe’s Tech Autonomy

Airbus, along with over 90 European companies and lobby groups, has urged the European Commission to establish a sovereign infrastructure fund aimed at enhancing public investment and promoting technological autonomy in the region. In a letter addressed to key European leaders, the signatories highlighted the urgent need for Europe to achieve strategic autonomy in critical digital infrastructure, emphasizing the risks of reliance on non-European technologies. They noted that Europe is falling behind the U.S. and China and faces a potential complete dependency on foreign technology within three years. To combat this challenge, the letter advocates for a ‘Buy European’ policy, which would encourage public and private sectors to support local suppliers and create a competitive environment. Additionally, the need for significant funding for capital-intensive projects like quantum technology and semiconductors was stressed, with recommendations for the European Investment Bank to play a key role. The push for increased investment comes amid calls from tech executives for regulatory reforms to stimulate growth in the burgeoning AI sector and tackle the fragmentation of regulations across European countries. This strategic shift is also influenced by the rising threat of U.S. protectionism, prompting Europe to reassess its technological self-sufficiency and defense capabilities.

Source: CNBC