Europe has lost race for frontier AI models, says Rhine Group director
Europe has lost the race to develop frontier AI models but can still excel in applying the technology, according to Rhine Group Executive Director Luis Garicano.
Europe has fallen behind in the global competition to build frontier artificial intelligence models, according to Luis Garicano, executive director of the Rhine Group. Speaking to Bloomberg TV, Garicano stated that while the continent can no longer catch up in developing foundational models, European industries still retain a strong position to excel in applying and implementing the technology.
The Rhine Group serves as a forum bringing together economists, financial figures, and industry leaders to address economic competitiveness challenges across the European Union. The initiative builds on recommendations from the landmark competitiveness report published by former European Central Bank President Mario Draghi.
Sources: Bloomberg.