Giorgos Verdi
@giorgosverdi
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Policy Fellow @ECFR | ex- @EuroParl_en campaigner, alumn @CollegeofEurope | Writes and tweets about AI, frontier tech and Europe 🇬🇷🇪🇺
Brussels, Belgium
Joined November 2013
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Pinned Tweet
1/ Europe doesn't have a tech industry. But why is that the case? The short answer: it's not because of regulation.
🧵A thread:
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1K
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5/
- European tech start-ups tend to rely on risk-averse banks for funding. US tech start-ups tend to rely on risk-seeking Venture Capital.
- It's not ok to fail. European bankruptcy laws tend to be unforgiving while the American regime allows for fresh starts.
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4/ Professor, Anu Bradford argues that 4 other factors have led to the US-EU tech gap:
- There isn't a Single Market, there are 27 of them. And it's harder for innovators to scale when you need to deal with 27 cultures, 27 administrations and 24 official languages.
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6/
- Immigration laws drive talents away. Foreign talent has contributed significantly to the US tech ecosystem, while Europe remains far less diverse.
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7/ This doesn't mean that all regulations are beneficial. But Prof. Bradford offers a more complex and convincing explanation for the US-EU tech gap. And a way forward to start closing it.
Read the full paper here:
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3/ Many experts see this huge gap and blame Europe's tech regulation. But for almost two decades, Europe's digital economy wasn't regulated. And still, the EU wasn't able to nurture companies like Microsoft or Apple.
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2/💰The 7 largest US tech firms have a combined market value of $12 trillion. Europe's 7 largest tech firms are valued at $705 billion. That's 20 (!) times lower than their American counterparts.
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1/ It's great to see so much interest about the EU tech industry and follow a fascinating debate.
The visual that I shared dates from 2018, because it captures a relatively unregulated EU digital economy.
Here's the 2023 version, focusing on platforms, from
@HamidrezaHoss
.
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How 'Free' from
@lea_ypi
helped me connect with my 🇦🇱 Albanian roots - and family.
A 🧵
(1/7)
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@Jan_Tjibbe
Indeed, but one of the main points here is to look at the EU tech ecosystem before 2018, when most of the EU digital regulation didn't exist.
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It was an honor for the students of the Hellenic Society
@collegeofeurope
to be invited to
@GreeceInEU
and meet HE Ambassador
@vrailas
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'Free' is a must read. For Greeks and Albanians alike. It helps the reader deconstruct a decades-long process of "othering" - the othering of Albanian classmates, of household workers and sometimes, the othering of our own families.
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3/ Finally, some people pointed that market capitalisation is one-dimensional as a metric.
@j2bryson
and Helena Malikova's visual looks at AI innovation based on market cap & the number of patents. It also looks at China separately from the rest of Asia.
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@collegeofeurope
hosting a Future of Europe conference with Commissioner
@dubravkasuica
and former EU High Representative
@FedericaMog
chairing a discussion with Foreign Ministers from the six Western Balkan partners.🇦🇱🇧🇦🇷🇸🇲🇪🇲🇰🇽🇰
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Speaking to the
#MGGAcademy
by
@IDOS_research
on digitalization, EU policy and our work
@EUdigitalsme
. An exciting discussion on tech with young leaders from China, Brazil, Indonesia, Mexico and others.
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2/ Many people pointed that ASML is missing.
The visual below compares the US' top 7 tech firms with the EU's top 7 tech firms.
From
@KoyfinCharts
and
@euronews
.
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It was an honor to organize and introduce our very first DiploTalk, with EU Ambassador to Ukraine Mr. Matti Maasikas, to discuss the Russian Crisis. The opening remarks were delivered by Rector Federica Mogherini.
Earlier today, our
#CoE
Young Diplomats student society organized a talk with Ambassador of the EU to Ukraine 🇺🇦, H.E. Mr
@MattiMaasikas
.
Discussion topic: "Crisis in Ukraine: What role for EU Diplomacy?"
Our distinguished speaker was kindly introduced by Rector
@FedericaMog
.
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Waiting until they find an EU district resident with a « COMPETITIVENESS » tattoo
Currently at a restaurant in Brussels EU district and the waiter has the word « RESILIENCE » tattooed on his arm, and that’s the most EU bubble thing I’ve ever seen 🇪🇺
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Holidays Recap: 1/ I spoke about the EU's AI Act in Athens, in an event organized by the Greek Ministry of Digital Governance
@MinDigitalGr
.
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My family migrated from 🇦🇱 to 🇬🇷 in 1994. It was a time when solidarity for Albanians had begun to fade, and fear was slowly capturing the sentiments of Greek society.
(2/7)
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The results? My sister and cousins experienced heavy bullying and social exclusion. This initiated a process of disassociation. Anything related to 🇦🇱 - the preservation of language, history and identity - could only make our lives worse.
(3/7)
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Yesterday, I attended with
@EUdigitalsme
the
@OECD
&
@OECD_local
4th Roundtable of the Global D4SME Initiative. Many thanks to New Zealand's Minister for Small Businesses
@Stuart_NashMP
for his leadership. An exemplary case of a multi-stakeholder partnership.
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Recently, Lea Ypi's book helped me expand these conversations. My parents are now happy to talk to me about the social intricacies of queuing, Coca-Cola cans and the stigma of bourgeois heritage.
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Some personal news: I’ve joined
@ecfr
as a Policy Fellow, working on the geopolitics of technology.
Some of the themes I’m going to examine include:
- Spearheading tech innovation.
- Strengthening economic security in critical tech.
- Increasing the EU’s global influence.
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1/ Some say the 🇺🇸 US is winning the global tech competition. Others say it's 🇨🇳 China. But how does one keep score in a tech competition?
🧵A thread:
(Table from
@ASPI_org
, 2023)
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Speaking
@R2REurope
this Friday on repair as a socio-economic opportunity for European SMEs. You can register here:
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Antitrust, digital regulation, and industrial policy are different tools with one single aim: to make sure that markets serve the people, instead of narrow commercial interests.
@BruxConf2024
by
@Caffar3Cristina
&
@Capitol_Forum
was the place to be today in Brussels.
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The imperative for survival was integration. My parents did not teach me how to speak Albanian and didn't see any reason as to why I should learn anything about the history of the country.
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As I naturally became interested in politics and philosophy some initial questions started occupying our lunch table: How was life under the Hoxha regime? What did my parents think of Marxism?
(5/7)
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Talking about disinformation & AI-generated deepfakes in 🇮🇹 Rome, only a few days before the
#EuropeanElections2024
.
A great chance to shamelessly promote our latest Policy Alert on how a European Democracy Shield should deal with these challenges.
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@jackeparrock
You can’t deny that the hitchhiking video was engaging and informative.
After all, the EU does spend a considerable amount of money and effort to reach out to citizens with very little success so far.
Having said that, he has exhibited some populist attitudes already.
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Russia's invasion of Ukraine and the EU's response verify the importance of an open, strategic and assertive trade policy.
Today, the student of
@collegeofeurope
visited the
@EU_Commission
to discuss with Deputy Director-General of DG Trade
@DRedonnet
🇪🇺
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One year ago, I joined the
@collegeofeurope
as a student. And what an extraordinary year it was. Today, the new students of the David Sassoli promotion have already started their classes in both Bruges and Natolin. They are about to make life-long memories.
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Stanford's
#AI
2024 report revealed some interesting insights:
1. For the first time since 2019, the EU surpasses China on the number of notable machine learning models. This is true, even if we subtract the 4 models originating from the UK.
@StanfordHAI
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8/ The concept of diffusion capacity allows us to understand better 🇨🇳 tech capabilities. It also allows us to rethink the 🇪🇺 EU approach and re-examine our own successes, not only in terms of narrow innovation metrics.
Full paper:
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🇪🇺 EU spending on defense R&D has fallen behind.
A new report proposes to strengthen synergies in📡dual-use technologies.
But critics believe that blending civilian and defense R&D would normalise military research in universities.
Watch this space.
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Von der Leyen promised to introduce a European Democracy Shield 🛡️to counter foreign
#disinformation
campaigns, if reelected.
With
@IreneSanCo
, we wrote how that proposal could look like in order to ensure free and fair elections🗳️
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2. The EU is also holding its ground when it comes to the number of newly founded AI companies.
Of course, there's still a lot to be done. The EU is third on the number of Foundation Models and the gap with the US is widening.
Full report:
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3/ I escaped gloomy Brussels, only to acquire intense climate anxiety in what felt like two summer-ish weeks in Athens.
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AI researchers and digital rights NGOs were gathered by
@OpenAI
in Brussels today to discuss safety and accuracy of ChatGPT and GPT-4.
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2/ I partnered up with
@Moschovidis
@EU_FOR_YOU
to inform young people on Instagram about the rise of AI. EU FOR YOU has an outreach of 26.000 followers across social media and 130.000 users weekly.
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5/ Now think of the US in the early 20th century. It was lagging behind 🇩🇪 Germany in terms of research institutions and the best 🇺🇸 minds wanted to train in Europe. In chemicals, the key emerging tech of the time, 🇺🇸 publications barely appeared in European journals.
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2/💡Most experts would answer that it's all about innovation. If one side has the most patents, the most scientific publications, and the most unicorn start-ups, then that side will win the global tech competition.
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Only 8% of European businesses use AI, says
@EU_Eurostat
. In Greece, it's only 4%.
By 2030, only 20% of European businesses will be using AI, if current trends persist. That's far away from the 75% target that the EU has set with its Digital Decade programme.
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The Sec Gen
@jensstoltenberg
of NATO addressing the 2022 Youth Summit: "If you take peace for granted, you may make these mistakes that create the conditions for war".
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🚀Exciting things at the
#SMEIntergroup
. Today, the discussion at the
@Europarl_EN
focused on Space! Happy to represent DIGITAL SME at the breakfast.
🚀Members of our team attended the
#SMEIntergroup
@Europarl_EN
. The breakfast focused on the EU Space Programme, business & funding opportunities for SMEs. An insightful presentation from MEPs
@Mdlabajova
,
@GrudlerCh
& Fiammetta Diani from
@EU4Space
. European
#SMEs
can do space!
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@jfelixcardoso
Mark Mazower's book on The Balkans. Lively prose that does not sacrifice on accuracy or depth of analysis.
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Unfortunately, the 2024-2029 Political Guidelines fail to meet the ambition that is needed for Europe to become relevant in the global tech race.
China and the US continue expanding their digital empires. Meanwhile Europe repackages its Data Strategy as a ‘Data Union’.
@vonderleyen
's guidelines are meagre for tech.
— "Action" on online addiction, an "inquiry" on impact of social media on well-being (vague)
— Promise of a "Data Union" — not clear how that's different from Data Act
— No sign of fully-fledged AI on the work floor bill.
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💰Contributions from tech giants should be redirected towards accessible high-speed connectivity for consumers and small businesses in rural and urban areas.
(3/4)
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@Spyros_Litsas
Η συζήτηση περι (γεω)οικονομικής ασφάλειας φαίνεται να περιορίζεται στην ενέργεια. Η Ελλάδα χρειάζεται 'Investment Screening Mechanism', για να ελέγχεται ο αντίκτυπος των άμεσων ξένων επενδύσεων.
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I was interviewed by
@DeutscheWelle
's The Day news show on the disinformation risks ahead of the
#Europeanelections2024
.
I highlighted the need for a 🛡️ European Democracy Shield which must strive for a coordinated and assertive approach to disinformation campaigns.
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Today
@R2REurope
, we discussed with MEP
@msaraswati
and Alexandre Tanay from
@backmarket
on the Right to Repair as a socio-economic opportunity for Europe.
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Mr. Ron Ton, Director of the Clingendael Academy
@Clingendaelorg
delivered a remarkable seminar at
@collegeofeurope
on strategic policy planing and scenario analysis.
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4/ Take the Soviet Union for example. It launched the first satellite into space, led the world in terms of R&D spending and was producing twice as many PhD graduates as the US. But they were the least successful in diffusing these innovations across their economy.
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Other findings include:
- 44% of EU citizens lack basic digital skills
- ICT specialists make up nearly 5% of people employed in the EU
- 45% of EU businesses use the cloud, mostly for emails
Full publication:
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In dire need of some innovation that will help me improve my poor photography skills.
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7/ What does that tell us about today? Ding argues that China suffers from a diffusion deficit. While 🇨🇳 can boast about R&D, patents and publications, 🇨🇳 businesses have been slow to adopt innovation. The ITU has ranked 🇨🇳 83rd in the world in terms of access and use of ICTs.
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This 3rd way:
(a) addresses the higher connectivity costs that are pushed towards consumers and smaller businesses.
(b) constitutes genuine industrial policy; if 🇪🇺 wants to become a global tech leader, it is necessary that we support our home-grown innovators.
(4/4)
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3/ But Jeffrey Ding from
@GWtweets
thinks otherwise: it's all about diffusion, meaning the ability of states to adopt, spread and ultimately exploit technological innovation.
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6/ However, it was the 🇺🇸 that introduced the discipline of chemical engineering and transformed industries such as glass, metallurgy and petroleum. 🇺🇸 didn't excel at innovating but at adopting innovations introduced by others and exploiting them to transform their industries.
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On 25/10, I'll be speaking at
#ClujInnovationDays
@ClujITCluster
on European AI governance. Details will follow shortly. Personal note: I need a new headshot.
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Όσα πρέπει να ξέρετε για το νέο όραμα του 🇩🇪 Olaf
#Scholz
για την 🇪🇺 - από τη σημερινή του ομιλία στη Πράγα:
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I'm joining
@EUdigitalsme
as Junior Policy Officer. A recent letter from
@paultang
that was adressed to
@EP_President
highlighted how US tech giants have undermined European digital sovereignty. It is high time we place small-scale innovators at the heart of our efforts.
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@Moschovidis
It's 2021. You're in Bruges during Christmas. You're playing Super Smash Bros with your mates. Exams are in full swing but no studying is being done. Life is good.
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6/ My colleagues
@ecfr
have written on six more scenarios for a second Trump term.
These scenarios imagine futures for Ukraine, the South China Sea, strategic industrial policy, NATO, the Middle East, and an illiberal internationale:
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1/ 🇺🇦 Διεύρυνση: Η Ένωση κινείται προς ανατολάς. Αυτό είναι το προαπαιτουμενο για τη σταθερότητα στην ήπειρό. Όμως μια 🇪🇺 με 30/36 κράτη-μελη απαιτεί, με τη σειρά της, εσωτερικές μεταρρυθμίσεις.
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I’ll continue to be based in Brussels. If any of the above seems interesting, don’t hesitate to reach out.
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Cem Özdemir, son of a Turkish textile factory worker, will be the 🇩🇪 agriculture minister in the new coalition government.
A landmark moment for diversity and inclusiveness in Europe.
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1/ President Biden's performance in yesterday's debate has raised concerns among Democrats.
So what would the return of Trump to the US Presidency mean for
#AI
and technology?
Here are 3 scenarios:🧵
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@JackMatthynssen
@swheaton
Close. The governing party has received internal criticism for being weak vis-á-vis North Macedonia and also Albania. The Enlargement portfolio would provide them with leverage on both fronts (to a reasonable extent).
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@YannisKaramits
Το μάθημα εδώ είναι: για να πετύχει ο ψηφιακός μετασχηματισμός απαιτείται στήριξη των Ελληνικών νεοφυών επιχειρήσεων και τοπικών οικοσυστημάτων.
Οι επενδύσεις πολυεθνικών είναι καλοδεχούμενες, αλλά η εξάρτηση σε αυτές αφήνει τη χώρα ευάλωτη σε εξωτερικούς μεταβλητές.
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Croquetas de jamón, AI policy and an incredibly sunny Madrid.
Couldn’t think of a better way to spend last week 🇪🇸
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2/ 📖 Συνθήκες: Οι κανόνες της Ένωσης μπορούν να αλλάξουν. Τέλος στην ομοφωνία σε τομείς όπως οι κυρώσεις και τα ανθρώπινα δικαιώματα - χρειαζόμαστε ενιαία εξωτερική εκπροσώπηση και αυτό απαιτεί την "ειδική πλειοψηφία" στο Συμβούλιο.
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@jfelixcardoso
Unfortunately, internal accountability proccedures have proven fruitless in addressing the crisis. With more scandals likely on their way, the question becomes: will the EPP leadership act before it's too late?
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4/ 🏛 Θεσμοί: Αλλαγές στο Ευρωπαϊκό Κοινοβούλιο και την Ευρωπαϊκή Επιτροπή για τη μετάβαση σε μια ΕΕ με 30/36 κράτη-μέλη.
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3/ 💶 Οικονομία: Ο Καγκελάριος θέλει ενίσχυση των δημοσιονομικών κανόνων της Ένωσης. Ακόμα, έδωσε έμφαση στο SURE, το εργαλείο της Ένωσης για την καταπολέμηση της ανεργίας - σημαντικη επιλογή εν όψει της επερχόμενης ύφεσης.
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It's official. The EU is opening an office at the heart of Silicon Valley. A crucial first step in developing a digital diplomacy.
Digital issues are the battleground of technology, values and narratives.
We will open a dedicated EU Office in San Francisco to enhance our
#EUdigitaldiplomacy
.
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- Yes, tech giants are generating extensive traffic, causing market distortion and avoid their fair share of taxes.
- Yes, telecom companies are already extremely profitable and want to be paid twice for their services.
🙋♂️There is a way out of this false dilemma :
(2/4)
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