Christine Lagarde called on Europe to develop its own artificial intelligence technologies

Europe risks becoming vulnerable if it relies on artificial intelligence models developed outside its borders, says European Central Bank (ECB) President Christine Lagarde. According to the head of the regulator quoted by Bloomberg, Brussels needs to develop its own capabilities in this area.

Lagarde linked the call to acquire their own AI and become an integral part of the chain of creation of relevant technologies with the need to ensure that access to tools critical to the financial stability of the region does not depend on external control.

She stressed that in a situation where almost every institution will depend on a limited number of models or AI development companies to adjust trading strategies or find vulnerabilities in their systems, “loss of access could cause serious damage to financial stability.”