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Bloomberg: EU Eyes a New Tech Champion, But It's No ChatGPT

Lionel Laurent

Feb 20, 2023

Paris is beefing up its cyber-industrial complex while Brussels reins in chatbots. What’s new?

[...] Former Atos executive Olivier Coste, in a new book about Europe’s tech lag, sees the real issue as being more about the high cost of failure in the EU — in the form of corporate restructuring. Unlike in the US, laying off engineers costs several hundreds of thousands of euros per person, takes time to negotiate, and demotivates staff who stay on. That discourages risk-taking on tech projects with a high rate of failure, he reckons. It also explains why 20th Century-era industrial firms — better at incremental, not radical, innovation — outspend 21st-Century tech in the EU. [...]

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