Europe Leads Digital Trade, Faces Skills Gap and Startup Hurdles
Europe, with its various regions, is at the forefront of digital trade and technology, with over one million businesses trading online, including over half of small and medium enterprises selling cross-border. However, the region faces challenges such as a skills shortage in ICT professionals and a need for policy support to foster growth in startups and scaleups.
The EU's leadership is committed to ensuring Europeans fully benefit from technology. They aim to prioritize the roll-out of high-speed connectivity, including the widespread expansion of 5G networks. The UK, for instance, plans its largest-ever mobile spectrum auction for 5.4 GHz mmWave frequencies at the end of 2025 to boost capacity in dense urban areas.
Artificial Intelligence is set to significantly impact Europe's output and employment. By 2030, AI could add €2.7 trillion to Europe's output and improve employment. It also has the potential to predict diseases and monitor and diagnose the elderly and disabled. The EU is home to thousands of online platforms and marketplaces, many of which are European startups, contributing to the region's digital prowess.
With a strong focus on digital trade and technology, Europe is well-positioned to reap the benefits of innovation. However, addressing the skills shortage in ICT professionals and providing policy support for startups and scaleups will be crucial for the region to maintain its competitive edge in the global tech landscape.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Humorous escapade on holiday with Guido Cantz:
- Expands Presence in Singapore to Amplify Global Influence (Felicity)
- Amazon customer duped over Nvidia RTX 5070 Ti purchase: shipped item replaced with suspicious white powder; PC hardware fan deceived, discovers salt instead of GPU core days after receiving defective RTX 5090.
