Ericsson and Nokia Demand EU Action to Secure Tech Leadership
January 16, 2025, Brussels, – The ‘New Industrial Ambition for Europe’ seminar in Brussels was endorsed by Ericsson and Nokia, ASML and SAP.
Leaders of the political and business elite concerned were quick to make a call to action to implement the strategies from the Draghi and Letta reports, which layout a vision to be how Europe can maintain its position as a leader in technology in the future.
The CEOs emphasized the lack of investment in R&D and a languid pace of regulatory reforms as a threat to Europe.
“European competitiveness already has one foot in the morgue,”
stated Pekka Lundmark, President and CEO of Nokia, as he pointed towards Europe’s presence in the Fortune Global 500. Börje Ekholm,
Ericsson’s President and Chief Executive Officer said-
” The competition in AI, cloud, and sophisticated connectivity is getting tougher. Europe should hurry to get into the competition.”
Leaders such as Henna Virkkunen, Enrico Letta and Dariusz Standerski participated in the discussions regarding Europe and the difficulties they were facing.
“It is vital that we invest in the AI and semiconductors.”
Stated Christophe Fouquet, the CEO of ASML, other influencing regulatory structures are also very crucial in such cases, to allow for cutting edge technology to be developed as well as attract funds.
The goal of the Draghi and Letta reports is to assist in increasing the amount of resources devoted to R&D, in addition there is also a plan for restructuring the telecom industry, followed by reforming the educational system in order to successfully cultivate personnel for the technological domain.
“There is a possibility of a European tech renaissance if proper action is taken.”
Christian Klein, SAP’s CEO said while also motivating policymakers to cut down regulations which have suffocated public administration modernization.
Like Klein and Ekholm, summit leaders emphasized the need for advanced connectivity for economic advancement, innovation and security.
“Europe’s networks must be secure and trusted,”
Ekholm said while emphasizing the need for the 5G Security Toolbox to be fully applied. The summit ended with an urgent and unanimous call to decisively act in order to secure Europe’s digital economy competitiveness.
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