EU's AI Act is an Indo-European Opportunity

The Indo-European opportunity.

Why the Paris AI Action Summit, co-hosted by India, could strengthen the collaboration between the two regions.

Driven by innovation, the growth of European-headquartered GCCs* is projected at a CAGR of 6.8%, double that of US-based businesses, as recently reported by Zinnov.

Europe's newly announced AI investment of 200 billion EUR, along with the international AI declaration for an "open, inclusive, and ethical" AI ecosystem signed by 60 countries including France, Germany, and India, could accelerate this development in my view.

Here’s why:

1️⃣ Market Access: GCCs provide a gateway to India's rapidly growing economy and the second-largest market for AI globally, according to OpenAI.

2️⃣ Tech Talent Access: India is home to a vast pool of engineering and technology talent focused on AI and ML, which European businesses urgently need.

3️⃣ Collaborative Ecosystem: International partnerships and governmental collaboration create synergies, expand markets, and drive innovation.

Large European companies like Airbus, Mercedes-Benz AG or SAP already have a significant presence in India. With the aforementioned advantages, India is set to become an AI and ML hub for European companies of all sizes and could attract even more businesses, driving innovation and real estate demand.

India’s tech parks better be ready!

What’s your take?

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Sources: AIM, Zinnov, Le Monde, Computing UK, Reuters

*GCCs = Global Capability Centers

Source links: AIM - "US GCC Centres Lead in India, Non-US Firms Catching Up" , “EU announces €200-billion AI investment push” - Le Monde , “India now OpenAI's second largest market, Altman says” - Reuters , "UK and US decline to back AI pact as EU and France ramp up AI investment" - Computing UK

Link to original LinkedIn Post.

Cross-post: Zinnov is a Key Enabler for Entering India , Airbus increases presence in Bengaluru , 8 Reasons Why GCCs Gain Momentum

India, Technology, GDP, Economy, Growth, Culture, Indo-German, Indo-European, Technology, AI, ML