Europe risks falling behind in the global AI race, and to close the productivity gap with the US and maintain competitiveness, companies must accelerate the adoption of AI technologies, according to the latest Accenture report.

A European worker today produces only 76% of what an American worker produces, a significant drop compared to 30 years ago, when the two regions were at the same level. Lack of investment in technology is one of the major causes of this gap.

According to Accenture research, 56% of the 800 large European companies analyzed have not implemented any major AI projects. If all European companies with revenues over one billion euros reached the AI maturity level of the best-performing industries, Europe’s economy could grow by almost 200 billion euros per year.

“Artificial intelligence is no longer just a matter of vision, but is becoming increasingly important for increasing productivity and maintaining economic competitiveness in Europe. Romania has the opportunity to play an active role in this process, but this requires consistent investments in technology, digital education and partnerships that connect local initiatives with what is happening internationally,” said Raluca Burghelea, Country Managing Director, Accenture Romania.

The differences are also visible between large and smaller companies: 48% of large companies have implemented at least one transformational initiative with generative AI, compared to only 31% of SMEs. Given that Europe has a significantly higher share of small companies compared to the US, this gap becomes a real vulnerability.

At the forefront of AI adoption are the automotive, aerospace and defense sectors, while telecommunications and utilities, pillars of European infrastructure, are lagging behind. These imbalances raise issues not only of competitiveness but also of technological sovereignty. At the national level, Switzerland leads the AI capabilities rankings, followed by Germany, the UK and France, while Italy and Spain are the worst performers.

Developing the ecosystem and workforce

For Europe to fully reap the benefits of artificial intelligence, the report recommends building a strong and competitive AI ecosystem. This means supporting smaller companies in adopting AI technologies, strengthening an autonomous European ecosystem and developing a coordinated industrial strategy.

Digital AI literacy and employee training are also very important. Many European workers (60%) fear losing their jobs, and around a third (36%) feel they lack the necessary training to use AI effectively.

“At a time of increasing geopolitical uncertainty, addressing Europe’s productivity gap is more important than ever. Artificial intelligence offers a unique opportunity for Europe to reinvent its economy and significantly strengthen its competitiveness. European companies are making progress, but they need to better harness the potential of the cloud, modernize their data architecture, and invest in skills development to scale AI faster and unlock its full potential. A coordinated strategy, including shared AI infrastructure and investment, will prevent the dispersion of initiatives and help companies across Europe access computing power, research and development, and training programs. Europe has all the resources it needs to take advantage of the AI revolution. Now is the time to act,” added Mauro Macchi, Accenture CEO for EMEA.

The analysis highlights several key barriers to scaling AI, including: removing data quality and integration hurdles, building and maintaining multidisciplinary teams, managing security and privacy risks, and demonstrating business value.

To overcome these challenges, the report recommends investing in removing data hurdles and creating a quality, integrated database. It also highlights the importance of continuously developing employee skills through training and learning programs. In terms of security, it recommends implementing a secure digital system that can mitigate risks and technical issues.

Article distributed with the support of  Schneider Electric