Bridging the AI Gap Across the Atlantic
AI offers abundant opportunities for European companies, yet they face a challenge in keeping pace with their US counterparts. In 2022, Western European companies invested significantly less in AI and IT across nearly all sectors, including consumer goods and construction. This investment gap highlights a need for European companies to accelerate their adoption of advanced technologies to remain competitive in a rapidly evolving market.
Western Europe trails the US in AI and IT investments, with a spending gap of 45–70%.
On average, US companies outspent their Western European peers by 45 to 70 percent, underscoring a significant disparity in resource allocation. This spending advantage allows US businesses to advance AI capabilities more quickly, driving innovation and operational efficiencies. For European companies, catching up will require a strategic focus on prioritizing AI initiatives and closing the investment gap.
Failing to address this disparity could impact European competitiveness over time. To capitalize on the vast potential of AI, European companies must act swiftly to integrate AI into their operations, enhance their technological infrastructure, and foster an innovation-driven culture. These steps will be crucial for maintaining a strong position in the global market.
