"A raft of recent policy changes in the U.S. touching trade, immigration, education, and public spending has sparked upheaval in research communities around the globe. The American economy, once the dream destination for the most talented, suddenly looks like it could lose its allure for the world's brightest scholars. The sudden crisis of faith in the American innovation ecosystem has also sparked a fresh debate: Can the European Union seize the moment to attract disenchanted researchers and strengthen its own innovation ecosystem?"
"The opportunity is real for Brussels, and the stakes are high, as the EU continues to trail the U.S. on virtually every cutting-edge technology-including artificial intelligence. A recent BCG Henderson Institute report shows that that stricter immigration rules and deep funding cuts for academic research in the U.S. raise the possibility that top AI researchers, a large share of whom are not U.S.-born, could look to take their talents elsewhere."
"To remake itself into a tech talent magnet, Europe needs to build an academic ecosystem more closely integrated with its industries, a necessary step to provide the career pathways and information flows needed to turn academic discoveries and inventions into business value. The cost of this transformation will be considerable, as publicly discussed in, for instance, the Draghi report. Only then can the EU's investments in academia help generate longstanding economic and geopolitical returns for the bloc."
Recent U.S. policy shifts in trade, immigration, education, and public spending have unsettled global research communities and reduced the United States' appeal to top scholars. Stricter immigration rules and funding cuts for academic research increase the likelihood that leading AI researchers, many of whom are not U.S.-born, will seek opportunities abroad. The European Union can capitalize by repatriating European talent and attracting researchers beyond the European diaspora. Europe needs an academic ecosystem tightly integrated with industry to create career pathways and translate discoveries into commercial value. That transformation will require substantial public investment and sustained policy coordination to produce lasting economic and geopolitical returns.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]