Europe’s industrial leaders spell out key performance indicators for the EU’s digital transformation
BRUSSELS, 3 MAY 2021: Following the launch of the European Commission’s Digital Compass in March, corporate leaders from across the industrial & technological landscape have weighed in with their position on the EU’s approach to digital transformation, in a new publication released today by the European Round Table for Industry (ERT).
Against a backdrop of accelerated and intensifying digital transformation, the new ERT publication entitled “Mapping a New World with the EU Digital Compass” addresses a wide range of different strands relating to digital developments. These include investment, hardware, cloud & edge cloud, connectivity, cybersecurity, artificial intelligence and more.
Catching-up with other blocs
The publication comes at the time when much of Europe’s digital future has still to be put in place, compared to the US and China where digital transformation has already been the subject of heavy, strategic investment in recent years. ERT has already issued warnings about the slow deployment of 5G in Europe*, compared with other world regions and this new publication highlights other digital enablers that need to be put in place, including the regulatory frameworks for the data economy and artificial intelligence (AI), cloud & edge cloud, connectivity and cybersecurity.
Addressing the digital component of the latest EU Industrial Strategy
With the announcement of a revised EU Industrial Strategy expected soon, ERT has also included some key performance indicators that can help measure the EU’s digital transformation. These include targets for 5G adoption rate, investment in AI and 2030 targets for education and the business digitalisation index.
“Digital transformation is key for the transition to a more sustainable society. With the green & digital transitions being driven by the European Union’s Green Deal and Digital Compass, we have the potential to futureproof prosperity in Europe for the next generations. To capture this opportunity, it is vital that Europe´s industrial strategy, competition policy and regulatory environment are aligned so that together we can create a climate where innovation and entrepreneurship thrive.”
“Today, Europe is being outpaced in many areas of digitalisation. If this gap continues to grow, European companies – and citizens – risk being left behind. There is a limited window of time in which Europe can catch up and make the most of this unique moment of step-change. That is why digital transformation has to be approached holistically with green transition and the upskilling and reskilling of a significant percentage of the EU population.”