Last week European Commissioner for Digital Economy and Society Günther Oettinger stated at the Austrian Alpbach forum that Europe needed to invest an estimated 600 to 700 billion Euros into its digital infrastructure in order to not fall further behind the United States and China.
Oettinger urges that Europe must quickly develop fiber optic networks as well as 5G wireless in order to stay competitive.
Furthermore, Oettinger emphasized the importance of a united Europe instead of emerging silos (aka Brexit) when he said,
“We have to bundle our European strength we have at universities and in the industry, or our 28 silos will be not strong enough to compete with Silicon Valley and the Chinese”.
When we combine Oettinger’s statements with data that the European Commission released for 2016 it gives us more details on where innovation happens in Europe.
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