Publication
EIB Investment Report 2023/2024
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What is it about?
European companies are increasingly adopting advanced digital technologies, such as Big Data analytics and artificial intelligence, to improve competitiveness. However, a gap remains between European Union (EU) companies’ use of those technologies and that of firms in the US and China. There is a particular focus on narrowing the gap between companies in the EU and those in the USA and China. The adoption of these technologies depends on factors like infrastructure, regulations, and access to finance. The EU must implement policies that support companies while also meeting societal needs and expectations, for example in relation to climate change and the green transition. The EU's integration into the global economy is explored, highlighting the need for resilient global value chains to combat trade disruptions and strategic dependencies.
Why is it important?
It is vital to its ongoing economic competitiveness that the EU understands the dynamics of innovation. By investing in innovation and adopting cutting-edge technologies, companies can improve productivity, create new products and services, and adapt to changing market demands. Additionally, embracing green technologies not only promotes sustainability but also opens up opportunities for growth and reduces dependency on raw materials. Strategic partnerships and a skilled workforce play vital roles in driving innovation and ensuring long-term success for European companies.
Perspectives
The digital and green transitions, combined with the growing roll-back of globalisation, are pushing the European economy to transform to be more sustainable, resilient, productive, and competitive. Now is the time to accelerate efforts to achieve those aims.
Debora
Revotella
European Investment Bank
