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Generative AI is projected to significantly boost the EU's GDP by €1.2 to €1.4 trillion over the next decade. This growth is attributed to increased employee productivity, automation of tasks, and the re-employment of workers into new roles. A report by Google highlights that 61% of jobs will be augmented by generative AI, with 7% fully automated.
The report emphasizes the need for the EU to enhance its competitiveness in technology and innovation. It points out that regulatory challenges hinder the growth of AI in Europe, with many companies delaying product launches due to strict regulations. Google advocates for investment in AI research and infrastructure to harness the full potential of generative AI.
• Generative AI could add €1.4 trillion to EU GDP by 2034.
• 61% of jobs in the EU will be augmented by generative AI.
• Regulatory challenges hinder AI innovation in the EU.
It is highlighted as a key driver for productivity and economic growth in the EU.
The article discusses how stringent regulations in the EU are limiting innovation and market entry for tech companies.
The report indicates that generative AI will augment 61% of jobs, leading to significant productivity gains.
The company emphasizes the economic potential of generative AI in boosting the EU's GDP.
The company has faced regulatory challenges in the EU, delaying the launch of its AI products.
The company has postponed the release of its generative AI capabilities in the EU due to regulatory uncertainties.
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