"But with the acceleration and deepening of AI models, we are confronted with a much more serious risk, because it is happening very, very quickly, and because the means of defense — and the funding required for them — have yet to be found," warned Lagarde.
European officials also expressed concern that the continent lacks sufficient financing channels for AI development compared to the U.
S. , leaving it behind the technology frontier.
"Europe is now in a situation where… it has to, of course, develop its own capabilities in the AI sphere.
There has also been a lot of talk about sovereignty issues in the AI sphere.
Europe has in the past shown it is capable of adapting new technologies…[to] lift productivity growth.
>>> Belgium Eliminates United States From World Cup; Host Nations Exit
[But] it has not always been at the frontier," said Boris Vujčić, vice-president of the European Central Bank.
