{"id":5312,"date":"2017-10-16T15:44:26","date_gmt":"2017-10-16T15:44:26","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=5312"},"modified":"2019-04-12T17:15:36","modified_gmt":"2019-04-12T17:15:36","slug":"factsfigures-10-imperatives-for-europe-in-the-age-of-ai-by-mckinsey","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/analyses\/factsfigures-10-imperatives-for-europe-in-the-age-of-ai-by-mckinsey\/","title":{"rendered":"[Facts&#038;Figures] 10 imperatives for Europe in the age of AI by McKinsey"},"content":{"rendered":"<p><strong>Techfoliance is extracting key data and facts from industry reports on the rise of Fintech in Europe so that you can focus on what matters the most for you.<\/strong><\/p>\n<p>In this report published in October 2017, the consulting firm McKinsey\u00a0analyzed how Europe positions itself in the race for artificial intelligence and automation compared with the US and China.<\/p>\n<p>[divider]KEY FIGURES[\/divider]<\/p>\n<p>The amount of <strong>cross-border data flows<\/strong> has grown <strong>45 times larger<\/strong> since just 2005.<\/p>\n<hr \/>\n<p>About <strong>15% of the global goods trade<\/strong> is conducted via <strong>international e-commerce<\/strong>, with much of it driven by platforms such as Alibaba, Amazon, eBay, Flipkart, and Rakuten.<\/p>\n<hr \/>\n<p>Europe has captured only <strong>12% of its potential from digital technologies<\/strong>, ranging from <strong>10% in Germany<\/strong> to <strong>17% in the United Kingdom<\/strong>.<\/p>\n<hr \/>\n<p>Europe could gain an additional<strong> \u20ac2.5 trillion of GDP<\/strong> in 2025, according to estimates.<\/p>\n<hr \/>\n<p>Europe is behind in <strong>external AI investment<\/strong>, which totaled <strong>$3 to $4 billion<\/strong> in 2016, compared with <strong>$8 to $12 billion<\/strong> in <strong>Asia<\/strong> and <strong>$15 to $23 billion<\/strong> in <strong>North America<\/strong>.<\/p>\n<hr \/>\n<p><strong>Automation<\/strong> alone could <strong>raise productivity growth<\/strong> on a global basis by up to <strong>1.4% annually<\/strong>.<\/p>\n<hr \/>\n<p><strong>Half the current activities<\/strong> carried out by workers in <strong>Europe could be automated<\/strong>.<\/p>\n<hr \/>\n<p>New forms of technology-enabled work are adding variety to the<strong> traditional 9-5 job<\/strong>.<\/p>\n<p>[divider]KEY FACTS[\/divider]<\/p>\n<p>MGI Industry Digitization Index, United States vs European nations<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5337 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe.png\" alt=\"\" width=\"677\" height=\"555\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe.png 677w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe-300x246.png 300w\" sizes=\"(max-width: 677px) 100vw, 677px\" \/><\/a><\/p>\n<hr \/>\n<p>Europe and the US can still capture tremendous upside from digitization<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5338 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_2.png\" alt=\"\" width=\"748\" height=\"470\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_2.png 748w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_2-300x189.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_2-700x440.png 700w\" sizes=\"(max-width: 748px) 100vw, 748px\" \/><\/a><\/p>\n<p>China and the US dominate investments in AI<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_3.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5339 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_3.png\" alt=\"\" width=\"751\" height=\"430\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_3.png 751w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_3-300x172.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/10\/Techfoliance_mckinsey-report-ai-in-europe_3-700x401.png 700w\" sizes=\"(max-width: 751px) 100vw, 751px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read the full report\u00a0<a href=\"https:\/\/www.mckinsey.com\/global-themes\/europe\/ten-imperatives-for-europe-in-the-age-of-ai-and-automation\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">here<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Techfoliance is extracting key data and facts from industry reports on the rise of Fintech in Europe so that you can focus on what matters the most for you. In this report published in October 2017, the consulting firm McKinsey\u00a0analyzed how Europe positions itself in the race for artificial intelligence and automation compared with the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[551],"tags":[240,239,1725,1675,1161,280,1724,1310,3,296,1727,1674,1726,1276,1011,1679],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[Facts&amp;Figures] 10 imperatives for Europe in the age of AI by McKinsey - INVYO Insights Europe : Media Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insights.invyo.io\/europe\/analyses\/factsfigures-10-imperatives-for-europe-in-the-age-of-ai-by-mckinsey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[Facts&amp;Figures] 10 imperatives for Europe in the age of AI by McKinsey - INVYO Insights Europe : Media Fintech\" \/>\n<meta property=\"og:description\" content=\"Techfoliance is extracting key data and facts from industry reports on the rise of Fintech in Europe so that you can focus on what matters the most for you. 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