What can European nations learn from Japan as they develop a vision for new technologies? In an op-ed for Sifted, The Financial Times’s new-media platform for European innovators and entrepreneurs, IPsoft’s Digital Fellow to the CEO Mark Minevich examines how the European Union should focus its efforts, including those around Artificial Intelligence (AI).
While a European roadmap for future technology development exists, the European Commission’s effort remains in draft state, with a deadline of March 2019 for final release. Until (and after) that report is published, it’s critical that additional conversations around investment and ethical use materialize within the European community, Minevich asserts in the op-ed. “As of today, the European Commission has pledged €1.5bn, an amount far less than what it will take to truly reimagine society,” he states.
Minevich’s op-ed urges the EU to use Society 5.0 — Japan’s technological innovation vision to embed technology into every aspect of public life — as a template for European investment and strategy. By aligning municipalities with industry, Japan seeks to boost innovation in Infrastructure, FinTech, Healthcare, Logistics and AI. The Japanese project anticipates a global investment of €77bn in robotics by 2025, a far cry from the EU’s anticipated €1.5bn allocation.
For more on what the EU should seek to accomplish with technology investment and development, read Minevich’s op-ed in its entirety.