ECB President Urges Europe to Build Own AI Capabilities Amid US-China Dominance

ECB President Christine Lagarde called on Europe to develop its own AI capabilities, warning that advanced AI models are concentrated in the US and China, creating dependency risks for European financial institutions. She noted that access control, once hypothetical, has become a real concern since this summer. This marks a notable policy push from a top European financial official, signaling potential regulatory or investment shifts.