Why AI Can Boost Europe’s Independence
Juanjo Cano, president of KPMG Spain, believes that artificial intelligence (AI) could be the key tool Europe needs to rely less on other countries. He shared this idea at the 41st Meeting of the Cercle d’Economia, speaking alongside Spain’s Minister of Industry and the head of Veolia in Spain.
Spain’s Strengths to Build On
Cano pointed out several assets Spain already has that make it a good base for AI‑driven growth:
- Renewable‑energy leadership – Spain is a top producer of wind and solar power.
- Hydrogen hub – The country is advancing quickly in green hydrogen technology.
- Lower energy costs – Compared with many European neighbours, electricity and gas are cheaper, attracting factories.
- Top‑tier fiber‑optic network – Fast internet coverage is among the best in the continent.
- Strong industrial sectors – Automotive, biotechnology, and pharmaceuticals are already solid pillars.
These advantages can attract new investment and give AI projects a reliable, cheap power supply and high‑speed connectivity.
Challenges Holding Spain Back
Despite the positives, Cano highlighted recurring problems that need fixing:
- Low productivity – Output per worker lags behind other EU nations.
- Many small firms – Small companies struggle to scale up and compete globally.
- Weak innovation spend – Not enough money goes into research and development.
- Industrial base needs reinforcement – Some sectors require modernization to stay competitive.
To tackle these issues, Cano urged policies that encourage investment, help businesses grow, and promote cooperation between European countries so each can share its strengths.
Preparing the Workforce for Change
He also stressed the link between technology, education, and an ageing population:
- Schools and vocational programs must teach the skills companies actually need today.
- While AI may automate certain tasks, it will also create new jobs and business models.
- If Europe trains its people for those emerging roles, it can stay ahead in the global race.
Smarter Rules for a Better Business Climate
Cano called for a review of regulations that add unnecessary complexity or deter investment. He argued that simplifying rules—especially for small businesses—would let them compete on equal footing with larger firms. This idea matches his earlier warning that overly strict European legislation can hurt competitiveness.
Conclusion
Artificial intelligence isn’t just a futuristic gadget; it’s a practical tool that can help Europe, and Spain in particular, become more self‑reliant and industrially strong. By building on existing strengths—clean energy, hydrogen, affordable power, and top‑notch internet—while fixing productivity gaps, supporting business growth, updating education, and streamlining rules, Europe can turn AI into a real advantage.
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