February 11, 2025 – At the Paris Artificial Intelligence Summit, which kicked off on Monday, approximately 60 European businesses, including traditional industrial giants and AI startups such as French large language model manufacturer Mistral, came together to sign an initiative aimed at propelling Europe to the forefront of the artificial intelligence field. This move, however, underscored a widespread belief that Europe is currently not in the lead in AI.
The initiative, dubbed the “EU AI Champions Initiative,” is set to be officially unveiled at the AI Paris Action Summit hosted by French President Macron at the Elysee Palace. European Commission President Ursula von der Leyen will also participate in the discussions. The summit has drawn government leaders from various European countries including Germany, Poland, and Ireland, although representatives from the United States and Britain were absent.
Led by the European branch of General Catalyst, a U.S.-based venture capital firm, the initiative stems from the belief that Europe’s approach to artificial intelligence has been overly complicated and bogged down by excessive regulations. Jeannette zu Fürstenberg, Managing Director and Head of General Catalyst Europe, explained that the alliance between traditional enterprises and startups aims to “embrace artificial intelligence proactively.” She emphasized, “This is a tremendous opportunity for Europe’s technology ecosystem. We want to accelerate the virtuous cycle between innovators, startups, and AI adopters.”
Zu Fürstenberg noted that the initiative would involve “structural cooperation” with the European Commission to explore ways to reduce regulatory constraints. She pointed out conflicts among the EU’s Data Governance Act, industry-specific regulations (such as those for telecommunications or banking), and the Artificial Intelligence Act, as well as the lack of unified standards. Von der Leyen has made simplifying EU rules to foster AI innovation a key task in her second term and plans to introduce a European Innovation Act. This act aims to lighten the administrative load for AI developers and provide clearer ecosystem support measures, such as access to funding.
According to Zu Fürstenberg, conflicts among different regulatory bodies within the EU, particularly in banking and financial services, are hindering the practical application of AI. When asked if she viewed the EU Champions Initiative as a criticism of the EU, she responded, “They have sent us a strong signal indicating their desire to actively participate and engage. Many of the conflicts we’re experiencing are unintentional. That’s why we’re bringing together regulators and those working in the field.”
Arthur Mensch, Co-founder, and CEO of Mistral AI, expressed support, stating, “The EU AI Champions Initiative comes at a critical time when business leaders are positioning Europe at the forefront of AI and driving economic transformation. Now is the moment for European policymakers, industry leaders, and startups to unleash the full potential of AI.”
Christophe Fouquet, President, and CEO of ASML, added, “ASML believes that the combination of cutting-edge AI technology and Europe’s world-class innovation ecosystem will drive the next era of technological progress. The EU AI Champions Initiative is a significant step in uniting industry leaders to ensure Europe remains at the forefront of AI-driven advancements.”
As part of the initiative, General Catalyst released a report titled “An Ambitious Agenda for European AI,” highlighting that the adoption of generative AI could potentially boost Europe’s annual productivity by up to 3% by 2030.
