On 4 June, CERRE hosted a pivotal event in Brussels, featuring high-level speakers from the tech and regulatory sectors to discuss the future of foundational technologies in Europe amidst the conclusion of the current EU legislative mandate. This event, built on the momentum of the “Foundational Technologies Governance Summit” earlier this year, featured a fireside chat between Brad Smith, Vice Chair and President of Microsoft, and Bruno Liebhaberg, Executive Chairman of CERRE.
This set the stage for an engaging broader discussion on how to responsibly incentivise innovation while ensuring the contestability and competitiveness of EU digital markets. This also involved Olivier Guersent, Director General of the European Commission DG Competition, Benoît Cœuré, President of the French Autorité de la Concurrence, and Prof. Viktoria Robertson, Head of the Competition Law and Digitalization Group, Vienna University of Economics and Business.
Brad Smith elaborated on Microsoft’s substantial commitment to AI infrastructure as a transformative investment for Europe, akin to historical investments in electricity. He underlined the importance of creating trusted, responsible AI environments, which are embodied in Microsoft’s AI Access Principles unveiled earlier this year. These principles aim to support AI’s rollout in Europe and ensure adherence to fairness and responsibility.
The engaging panel discussion that followed explored the competitive dynamics of AI markets, potential monopolistic trends, and the appropriate timing and tools for regulatory intervention. Prof. Robertson pointed to the susceptibility of AI-related markets to follow the monopolistic paths of traditional digital markets unless proactive measures are taken early. Benoit Cœuré and Olivier Guersent discussed the dual imperatives of fostering innovation and regulating to prevent market abuses, emphasising the need for open access and dynamic market structures.
The conversation also touched on the role of partnerships between different players in the technology ecosystems, and the myriad existing tools at the disposal of enforcers looking to ensure markets remain competitive and that they can act early enough to prevent tipping.
Bruno Liebhaberg made a strong plea for a significant policy push to genuinely strengthen the EU technology basis and catch up in AI and its ecosystem. He underlined the need for the AI Act implementation to not only ensure legal security and predictability in what is still a continuously evolving area, but also, first and foremost, foster investment. In concluding remarks, panellists advocated for a balanced approach between leveraging regulatory tools and fostering a conducive environment for innovation and investment in AI. They highlighted the need for clarity and commonality in rules applicable across the board.
The recording of the event is available to watch on CERRE’s YouTube channel.
