Spence: ” A European center for AI like CERN for physics | Traditional ai Examples | Generative ai Google | Generative ai Wiki | Turtles AI

THE EU NEEDS TO INVEST HEAVILY TO TAKE THE MULTINATIONALS OUT OF THE BUSINESS.

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Economist Michael Spence, Nobel Laureate in 2001, launched a visionary proposal during the Trento 2024 Festival of Economics: establish a European center for AI, similar to CERN for physics.

This center should become a beacon of research and innovation, gathering the best talent from various sectors to govern the evolution and strategic use of AI, taking control away from large multinational corporations such as Google, Amazon, Meta and Microsoft.

According to Spence, European investment in this direction is crucial if we are not to remain passive spectators of the AI revolution.

Spence captivated the Trento audience with his positive view of AI, contrasted with the concerns raised at other events at the festival, where the risk of job losses and the high cost of the necessary investments were discussed.

He reiterated that generative AI will lead to increased productivity by freeing workers from repetitive tasks and allowing them to focus on more creative and high value-added tasks.

In addition, AI will be able to democratize access to advanced services, such as medical services, providing accurate diagnoses even in remote or less developed areas.

Spence also addressed the issue of ecological transition, likening it to a vast field to be plowed.

He emphasized that although it requires significant investment, this transition is inevitable and already underway, supported by private investment.

AI will play a key role in managing the distribution of energy produced from renewable sources, such as wind and photovoltaics, through smart grids that maximize efficiency and energy production.

In his speech, Spence acknowledged the challenges posed by the current geopolitical, health and energy crises.

Finally, Spence emphasized the importance of not leaving workers and small businesses behind in meeting the challenges of the dual digital and ecological transition.

He emphasized that these businesses form the backbone of the economies of many countries, including Italy, and need support to navigate a rapidly changing technological and environmental landscape.