🌐 Transatlantic Technology Capabilities & Collaborative Opportunities 🤝
The U.S. and Europe lead the world's strongest trade and investment partnership! After a brief 2020 slowdown, 2021 saw record highs in transatlantic trade, with goods reaching $1.1 trillion and U.S. foreign direct investment in Europe hitting $253 billion. 📈
Bilateral U.S.-EU R&D flows lead globally, with Europe accounting for 56% of total U.S. R&D. However, European tech firms lag behind U.S. counterparts, growing revenues 40% more slowly and investing 40% less in R&D. 📊
Despite these gaps, the 2021 Global Innovation Index (GII), Europe remains an innovation powerhouse! 8 European economies rank among the top 15 most innovative globally, and EU-based organizations contributed 20% of global R&D in 2019. Encouragingly, Europe maintained its strong presence in the 2023 rankings, with 8 countries still among the top 15 innovators. 🚀
When it comes to AI, the U.S. leads in top-tier research with 60% of top researchers, while Europe and China follow with 18% and 11% respectively. This suggests a promising opportunity for transatlantic AI collaboration. 🤖
Understanding R&D investment trends and disparities is vital for shaping collaborative strategies, leveraging each region's strengths, and fostering a more balanced and mutually beneficial transatlantic tech ecosystem. You can see a breakdown of R&D spending in the chart below. 💡
Let's harness the strengths and synergies of the transatlantic partnership to drive innovation, growth, and global leadership in tech! 🌟
#TransatlanticPartnership #TechnologyInnovation #RnD #AICollaboration
🔗 If you’d like to learn more about more EU-US Tech Relationships, head over to EIT and download our report, https://lnkd.in/gzUfVeT5. You can also find further research here: https://go-eit.eu/library/
The European Institute of Innovation and Technology (EIT) Silicon Valley Hub aims to facilitate knowledge sharing, partnerships, and access to resources that can help drive technological advancement in Europe. Helping drive initiatives to strengthen Europe's competitiveness and partake in collaboration activities with global innovation hubs like Silicon Valley.
Federico Menna Orestis Trasanidis Pui San Tam Katarina Djuric Adi Barel Ido Rosenblum Evangelos Marios Kemos Dorottya Csák Antoni Pijoan Martine Van Veelen Eden Dvir Zano
Customer Experience - Network Operations Senior Leader | Opinions are my own
2dThanks Juan Santiago for continuously positioning the LA talent around the globe!