Euroviews. What’s next after Europe’s ‘year of AI’?

2023 was a turning point for AI. Across Europe, the accessibility of generative AI created a surge of innovation among consumers and businesses. 

Organisations of all sizes across all industries, along with citizens, are engaging with this groundbreaking technology like never before, according to a recent study by Strand Partners, commissioned by Amazon Web Services (AWS).

The report estimates that AI could unlock €600 billion for Europe's economy by 2030 if European appetites for AI can be maintained. 

How can Europe seize this opportunity? The report suggests that closing the digital skills gap will be the greatest gift governments can give to both businesses and citizens.

The number of businesses using AI increased by 32% last year, with over two-thirds of those using the technology reporting increased revenues, improved productivity, or stimulated innovation as a result.

Across Europe, we are already seeing the widespread positive results of harnessing AI to transform industries.

NeuroPro uses AI machine learning (ML) to improve accuracy in diagnosing complex brain diseases, reducing the time it takes hospitals to share medical data and make a diagnosis from weeks to hours.

Dutch start-up Growy uses AI applications to monitor and tend to its vertical farms, processing vast amounts of data including watering, feeding, and harvesting information to optimise plant health. 

The company offers a glimpse into an innovative, competitive and sustainable farming model of the future.

These businesses show what can be achieved through AI innovation. Citizens also see this potential — over half (52%) believe that AI will be important in addressing big societal challenges, such as climate change and disease control.

As businesses increase