Europe’s biggest companies want to “Buy European”

A coalition of more than 90 European companies, including Airbus, Dassault Systemes, and Proton, called for the European Union’s leadership to take “radical action” to reduce the continent’s reliance on foreign technology. In an open letter to European Commission President Ursula von der Leyen on Friday, the companies warned that Europe’s dependence on non-European technologies will become nearly complete in less than three years without drastic intervention.

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The coalition emphasized the need for technological sovereignty and independence across different layers of critical infrastructure but specifically highlighted artificial intelligence frameworks and models as key areas. They emphasized the need to create a “EuroStack,” a Europe-led “digital supply chain," an idea proposed by economist Cristina Caffarra in January, to compete with US tech giants in Silicon Valley.

The group also recommended establishing a sovereign investment fund to pour money into quantum computing, chips, and cloud technology, as well as a “Buy European” effort across the continent. Europe has been the first mover in AI regulation, passing its AI Act last year, but its companies have grown frustrated with the lack of commercial activity and autonomy. Further, they stressed that without new investment, Europe will fall further behind the US and could be geopolitically vulnerable in the long term.