This share prices have a 15 minute delay and are shown in the local time of the market in which the quote is displayed.
Geopolitics implications of technology
The think tank “European Council on Foreign Relations” (@ecfr) released an article analyzing the geopolitics implications of digital technologies for the European Union (EU). “Digital and technological sovereignty” is essential for the EU to “enjoy foreign policy autonomy”, to address vulnerabilities that may arise from 5G, undersea cables or military Artificial Intelligence, and to export European regulatory standards to other countries in favor of data privacy and democratic values.
The article is focusing on the geopolitical dimension of the development, adoption, and regulation of technology in Europe with the following highlights:
- We need to address two types of geopolitical vulnerabilities arising from current technology “status quo” in order to “enjoy foreign policy autonomy”:
‑ A few states are leading or monopolizing Artificial Intelligence (AI), 5G, and other new technologies and digital infrastructures (“sea cables”). That means technological dependence on non-EU providers and poses some risks such as the need to adopt non-EU standards in the ethical approach to AI or in data privacy as EU data already flows to foreign countries and companies.
‑ Openness to foreign interference: According to the article, technologies can also open gaps for states to interfere with others through disinformation campaigns, deep fake news or excess of information, which ultimately foster lack of trust in institutions and democracy. - Recommendations on how to address all these sources of vulnerability. In this regard the EU should:
‑ Improve its data sovereignty by adopting strict regulations on data privacy and ensuring that these are exported to countries and companies that access Europeans’ data.
‑ Invest heavily in exporting technologies and practices that protect democracy and help achieve technological sovereignty.
‑ Engage deeper with external implications and geopolitical power elements of technology.
Filter results
According to @McKinsey, banks must prepare for a new growth curve. Strategic precision —the ability to combine technology, capital discipline, and deep customer insight— will distinguish the leaders from the laggards.
According to Kristalina Georgeva IMF Managing Director, lifting growth requires three things: one, regulatory housecleaning to unleash private enterprise; two, deeper regional integration; and three, preparedness to harness AI.
According to The European House – Ambrosetti, the European Union has an opportunity to boost competitiveness and growth by simplifying regulatory and supervisory frameworks, particularly in the areas of sustainability and the financial sector.
According to Ramón Casilda Béjar, Spain, in today’s complex geopolitical landscape, has the opportunity to strengthen its role as a bridge and connecting country between Ibero-America and the European Union, revitalizing investment flows in both directions.
According to @ECB, in moments of acute stress, the public often turns to physical currency as a reliable store of value and a resilient means of payment, underscoring the crucial role it plays above and beyond everyday transactional convenience
According to Juan S. Mora-Sanguinetti, in Spain a 10% increase in regulatory volume leads to a 0.5% drop in employment in companies with fewer than 10 employees.
According to Hélène Rey “In a world where stablecoins, particularly those pegged to the dollar, become an important global payment tool, we must brace ourselves for substantial consequences”.
@judith_arnal proposes reforms for the EU to advance regulatory simplification, starting with consensus on its meaning, with competitiveness as a pillar, plus coordination mechanisms and a governance rethink.
According to @iee_org, Spain has one of the most demanding tax environments for businesses within the European and international context, which may have significant implications for competitiveness, foreign investment attraction, and business expansion.
According to Christine Lagarde for the euro to gain in status, Europe must take decisive steps by completing the single market, reducing regulatory burdens and building a robust capital markets union.
According to the Bank of Spain, in a context of strong growth in transactions and prices, the conditions under which new mortgage loans are granted currently show no signs of easing in lending standards.
McKinsey notes that European private capital is half the size of the U.S. and must play a key role in boosting competitiveness, by driving innovation, scaling firms, and mobilizing the investment needed to close the gap with other regions.