The president of the European Commission (EC), Ursula von der Leyen, highlighted several technology initiatives to support business recovery and drive innovation.
Indeed, she revealed the initiative called NextGenerationEU which plans to invest in both short-term recovery and long-term prosperity, including 5G and fibre, as well as in digital skills. Digital spending will aim to overshoot the 20% target.
It was also stated that the initiative needed to focus on shaping digital transformation and on the importance of the semiconductor industry in Europe. Following this, it was reported that Intel plans to build two European semiconductor foundries to manufacture chips.
As of now, the US dominates the tech sector, she then underlined the need for Europe to be more competitive and focus on their tech sovereignty.