DIGITAL INNOVATION
DIGITAL INNOVATION Stakeholder Article Gearing up for tomorrow: Enhancing Europe’s tech competitiveness Source: European Parliament Europe recognizes the importance of digital technology, which is evident in numerous studies that aim to boost and regulate the sector. However, Europe too slow to react and adapt to new conditions. By SILVIO KUTIĆ The ‘Old Continent’ is on the right track, but it must speed up its efforts to avoid being left behind in new technological opportunities this time. The question arises - where does Europe stand on this global map of tech power? The McKinsey Global Institute points out that overcoming the technology gap will be crucial to reduce Europe’s exposure across various sectors. Technology is one of the key drivers of growth, and even though Europe has many high-performing companies, they typically grow slower, generate lower returns, and invest less in R&D compared to their US counterparts. Although Europe arguably missed the first boat in the previous technology revolution, many boats are still in the harbor, ready to be boarded by the new leaders of developing technologies. Despite the fact that we live in uncertain times, we must think in terms of the future where interactions and communication between the physical and virtual realities will play a major role. What connects all new technologies is the need for communication. Online solutions are the new drivers of growth. One of the areas that could unleash an entire set of new values is the communication and data industry. In the context of Europe, these areas can offer space for specialisation and new expertise required for the jobs of the future while protecting the democratisation of data and inclusion so that no one is left out in the new wave of growth. How long Europe will endure the technology gap in the face of the burgeoning digital ecosystem in global markets also depends on the focus it puts on competitiveness development. We see concrete examples of overcoming challenges in EU funding in the IPCEI (Important Projects of Common European Interest) instrument, comparable to what DARPA (Defense Advanced Research Projects Agency) is doing in the US. Europe recognizes the importance of digital technology, which is evident in numerous studies that aim to boost and regulate the sector. However, Europe is too slow to react and adapt to new conditions. The ‘Old Continent’ is on the right track, but it must speed up its efforts to avoid being left behind in new technological opportunities this time. Infobip is using its cloud platform to open and democratise global communication and digital interactions. As a leader in its field, Infobip helps navigate the new wave of tech companies that have power to position Europe at the forefront of upcoming digital technologies. About Silvio Kutic Silvio Kutic, CEO of Infobip a global cloud communications platform established in 2006 and the first Croatian unicorn. The platform has the capacity to reach over seven billion mobile devices and ‘things’ on 6 continents with direct connections to more than 700 mobile network operators in over 190 countries worldwide. Infobip’s mission has always been to provide affordable and innovative global communications technology. Our vision for the future is a cloud-based communication continuum that gives more power to users and enables seamless interaction between businesses and people around the world. 27
