- Nokia, Ericsson, ASML, and SAP lead a summit in Brussels to push for urgent digital reforms in Europe.
- The summit calls for a unified digital strategy to close Europe’s technology gap with the US and China.
What happened: Tech giants call for action at Brussels summit
Nokia, Ericsson, ASML, and SAP have united to host the “New Industrial Ambition for Europe” summit in Brussels. The event brings together key European political figures, such as Henna Virkkunen, European Commission executive vice president for tech sovereignty, and Enrico Letta, former Italian Prime Minister. The aim is to spark bold reforms to boost Europe’s technological competitiveness and economic growth.
Discussions at the summit focus on recommendations from the Draghi and Letta reports, which emphasise the need for innovation, investment, and a unified digital strategy to address Europe’s growing digital divide. Both reports urge action to improve infrastructure, reduce market fragmentation, and accelerate R&D investment.
Börje Ekholm, CEO of Ericsson, and Pekka Lundmark, CEO of Nokia, stressed the urgency of these reforms, warning that Europe risks falling behind other global technology leaders. They called for immediate changes to make Europe a more attractive environment for tech investments in AI, cloud, and advanced connectivity.
Also read: euNetworks optimises European trading routes with record fibre deployment
Also read: Nokia and EOLO launch Europe’s first 5G mmWave network
Why it’s important
The summit’s calls for action come at a critical time for Europe’s technology sector, which is significantly trailing the US and China in R&D investment by €450 billion annually. Europe’s competitiveness is at risk, with companies like Ericsson already investing heavily in research and development within the continent.
The Draghi and Letta reports highlight the need for bold steps to address this gap, particularly in digital infrastructure and security. With global economic resilience increasingly tied to digital capabilities, leaders at the summit stress that Europe must act now, not in a decade.
If implemented, the reforms could stimulate growth in key industries such as AI and cloud computing, ensuring Europe’s future competitiveness on the global stage. As Europe’s technology landscape faces intense global competition, the summit’s call for policy shifts and investment is vital for its digital future.
