"Europe's big comeback plan to close the innovation gap with the US and China is struggling to take off. One year ago, former Italian prime minister and former European Central Bank chief Mario Draghi warned that the EU faced an "existential challenge" if it didn't invest in advanced technologies like artificial intelligence. In his landmark report, Draghi said Europe had missed the boat on cloud computing and quantum, but argued it still had a shot at leadership in generative AI and other frontier industries."
"The new Deutsche Bank analysis finds that Brussels has made little progress on Draghi's 383 recommendations. The report cited a new analysis by the think tank European Policy Innovation Council, which found that 11.2% of Draghi's recommendations have been fully implemented - and even counting partial progress, less than a third of the agenda has been delivered as of September 4."
Only 11.2% of 383 innovation recommendations have been fully implemented; counting partial measures, under one-third of the agenda was delivered as of September 4. Progress shows clear sectoral divergence: transport and critical raw materials advanced, while energy and digitalization remain stalled by politics, regulation, and fragmented ownership. Defense investment has surged, with Germany increasing spending from €74 billion in 2024 to about €128 billion next year and a $176 billion loan plan to expand arms production. Europe continues to lag in artificial intelligence, cloud computing, quantum technologies, and startup scale-up capacity. Overall progress is mixed: no game changers, but some substantial reforms.
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