Yet, at the same time, my key criticism of this report is that it focuses only on the short-term.
Europe is in the position it is in today b/c it has never seriously built a research -> R&D -> product pipeline.
The US has numerous mechanisms for seeding research topics that eventually emerge as products *decades* later: Consider the DARPA Grand self-driving challenge, which, more than *20 years ago*, planted the seed of autonomous driving research. A decade later, the US had an ecosystem of talent and experience to rely on when this technology started become ready for prime-time, and today, we have Waymo.
Further, the US is based on *concentration* of talent and capital, something that is very much antithetical to Europe, but also to my home country Germany, which - due to an ancient political tradition - chooses to distribute resources across the whole country, where the US fosters hubs such as MIT & Harvard or the Bay Area to ensure a critical mass of R&D that is critical to actually get ambitious projects off the ground. I believe that the German way is better for society *if there is enough resources to go around*, unfortunately a situation that is very much not true in Europe anymore.
In my opinion, for Europe to have a shot would require to invest into a single university and surrounding industry and startup ecosystem that concentrates talent and resources in a desirable location.
There will be another revolution *after* this current "AI" wave has blown over, in 10-15 years from now. But if Europe doesn't change course, we will miss that one, too.