This sentiment was echoed by various tech leaders during the event.
“The real opportunities lie in the application layer,” he expressed. “We might not see significant advancements in highly sophisticated AI hardware technology.”
Sohrab Hosseini, who co-founded the generative AI startup Orq.ai in Amsterdam, highlighted the possibilities at the “orchestration and application levels,” while Lucien Burm, President of the Dutch Startup Association, identified areas where profitability could be maximized.
Van Glabbeek believes that the US’s lead in AI infrastructure could pave the way for European software advancements. “The foundation has already been established,” he affirmed.
This was the consensus highlighted by Dutch technology leaders at the Assembly, an exclusive policy forum of the TNW Conference held in Amsterdam.
Van Glabbeek described it as “the most substantial investment in technology in human history.”
At the forefront of the EU tech landscape is Jeroen van Glabbeek, CEO and founder of CM.com, a customer engagement platform valued at approximately €217 million with projected annual revenues of €274 million by 2024.
European tech firms may not be able to match the level of hardware spending seen in the US. However, they can capitalize on this by developing AI applications using the existing American infrastructural base.
Europe already boasts a strong reputation for producing top-tier applications, from Spotify and Grammarly to Revolut and Klarna. Looking ahead to the AI era, Van Glabbeek anticipates a fresh wave of such applications originating from the region.
Europe has been trailing behind the US in the race for AI supremacy, but the continent is positioned to potentially dominate AI applications on a global scale.
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This groundwork is being laid through unprecedented investments. By 2025, Meta, Amazon, Alphabet, and Microsoft are projected to collectively invest over $300 billion (€261 billion) in data centers, networking, and cloud services for AI, as outlined by CNBC.
To unleash Europe’s AI potential, these speakers emphasized the need for financial changes: more risk-taking by investors, streamlining of bureaucratic processes in public funding, and an increase in local procurement. A crucial demand resonating across Europe’s tech sector is the call for regulation that fosters innovation.
While Silicon Valley dictates the AI framework, there is an urging for Europe to focus on creating applications that build upon it.
