Summarize this content to 2000 words in 6 paragraphs in Arabic Niklas Zennstr\u00f6m, one of Europe\u2019s most successful tech entrepreneurs and investors, believes the continent\u2019s start-ups can still succeed in artificial intelligence despite their huge funding gap with US rivals. European start-ups can thrive by developing applications that are built on top of AI platforms run by US-based companies such as OpenAI or Google, Zennstr\u00f6m told the Financial Times. \u201cThink what happened with mobile and the cloud: there are a few cloud providers in the world, they enable thousands and thousands of businesses,\u201d he said in an interview. \u201cIt\u2019s not like everyone needs to be a large language model\u2009.\u2009.\u2009.\u2009You can create value as an application provider.\u201d The comments from a leading industry voice come as European policymakers and investors grow anxious that the US is pulling ahead of the region in AI. Many worry that Europe once again risks being left behind by deep-pocketed groups in Silicon Valley in a transformational new technology, with huge implications for the region\u2019s competitiveness and national security. The European tech industry has created hundreds of \u201cunicorns\u201d \u2014 private companies valued at more than $1bn \u2014 and narrowed the gap in early-stage funding with the US \u201cregardless of whether Europe has a lot of critical [tech] infrastructure that is European\u201d, the Skype co-founder told the FT. \u201cEuropean companies can build on top of [AI platforms] whether they are from France or from the US,\u201d he said. Confidence among Europe\u2019s entrepreneurs in the region\u2019s tech prospects hit a new low in 2024, according to the State of European Tech report by Atomico, the venture firm founded by the Swedish entrepreneur in 2006. Its latest survey found that 40 per cent of founders felt \u201cless optimistic\u201d about the future of European tech than the year before. Yet while conceding 2024 has been \u201cvery hard\u201d for start-ups and investors, with capital invested in European tech expected to fall for a third successive year, Zennstr\u00f6m believes pessimism about the region\u2019s prospects is exaggerated. \u201cIt\u2019s a European problem to [just] talk about the problem,\u201d he said. \u201cThere is so much exciting data that shows we are actually catching up [with the US], we are doing pretty well.\u201d Despite that progress in the European tech industry at large, the transatlantic investment gap in AI start-ups in particular is stark. A report by venture firm Accel, published in October, found that US investment into generative AI reached almost $48bn in 2023 and 2024 combined, more than five times as much as in Europe and Israel, where funding in the sector totalled about $9bn. Much of the US total is driven by start-ups developing so-called \u201cfoundation\u201d models, the costly and complex AI systems underpinning general-purpose chatbots and media creation services, such as OpenAI\u2019s GPT.Europe has a handful of start-ups working on foundation models, including Paris-based Mistral and Germany\u2019s Black Forest Labs. However, US-based OpenAI, Anthropic and xAI, have together raised tens of billions of dollars more than their European rivals, while Big Tech groups Microsoft, Google, Amazon and Meta are also investing heavily in their own large language models. Atomico, which raised $1.24bn in new funds in 2024, has backed European AI start-ups that are building more specialised models around particular applications, including Corti, a Danish maker of digital assistants for healthcare, and Germany\u2019s DeepL, which offers machine translation tools. \u201cIt\u2019s not just all about five LLM companies,\u201d Zennstr\u00f6m said. \u201cThere\u2019s also so much else that\u2019s being created in terms of value.\u201dBut he admitted the \u201cjury is still out\u201d on whether Europe can build competitive general-purpose LLMs in the long term. \u201cWhat you need for AI is, you need a lot of money, you need a lot of data and you need distribution. So it\u2019s a natural thing that the Big Tech companies have a competitive advantage,\u201d Zennstr\u00f6m said. \u201cThe reality is the rich get richer.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Niklas Zennstr\u00f6m, one of Europe\u2019s most successful tech entrepreneurs and investors, believes the continent\u2019s start-ups can still succeed in artificial intelligence despite their huge funding gap with US rivals. European start-ups can thrive by developing applications that are built on top of AI platforms<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-157427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/157427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=157427"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/157427\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=157427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=157427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=157427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}