Google: Europe Needs Faster Cloud Growth to Unlock €1.2T AI Boom

According to a new report released by Implement Consulting Group in partnership with Google Cloud, Europe can unlock €1.2 trillion in growth by accelerating cloud adoption, establishing sustainable digital infrastructure, and leveraging AI innovation.

The report titled, “Digital Innovation with Control: Clearing the Cloud,” which was presented at Google Cloud Digital Sovereignty Summit in Munich, provides a clear road map for attaining digital sovereignty through innovation—with control.

It concludes that an open and competitive investment environment where Europe can use the greatest technology to realize the economic potential of AI is essential to the continent’s future competitiveness and prosperity.

The report claims that by 2034, Europe’s AI value chain, which includes foundation models, infrastructure, and application and services software, could boost GDP by €200 billion. AI services and applications account for an astounding 75% of that potential. The foundation of this value chain will be top-notch cloud infrastructure.

According to the analysis, Europe needs to invest an estimated €400 billion in data centers and related digital infrastructure to increase its data center capacity within the next five to seven years. The greatest way to do it is if Europe keeps its investment climate open.

“The EU’s digital future is a transformative opportunity”

said Giorgia Abeltino, Head of Government Affairs & Public Policy, Google Cloud Europe.

“An open, secure and multi-cloud ecosystem delivered against sovereignty principles will not only empower businesses and governments to pursue AI innovation responsibly, but also strengthen European resilience and drive sustainable economic growth. We encourage policymakers to create the best conditions for investment in AI and cloud infrastructure through mandating choice and the establishment of an efficient, secure and clean cloud environment across Europe.”

“This report brings into stark focus both the scale of the opportunity, and an urgent need to close the cloud gap necessary for growth,”

adds Martin Thelle, Senior Partner and Head of the Economics Practice, Implement Consulting Group.

“Europe can only truly achieve digital sovereignty when innovation is balanced against control. A framework which therefore ensures choice, resilience and scale will expedite Europe’s AI opportunity while safeguarding its autonomy and integrity.”