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Helsinki, Finland | Xinhua | Nokia’s CEO expressed concern on Thursday about the slow outreach of the 5th generation mobile network (5G) and artificial intelligence (AI) in Europe, and warned against excessive regulation.
The success of nations in the future will depend on technology, said Pekka Lundmark, the CEO of the Finland-based technology company.
Speaking at a seminar hosted by Finnish think tank EVA, Lundmark noted that Europe is clearly behind the U.S. and China in launching 5G networks and adopting AI.
Only 25 percent of individuals and businesses are currently able to get 5G service in Europe, he said, while the figure in the U.S. is 75 percent, and in South Korea, 93.
In 2020, private investments in AI amounted to 23.6 billion U.S. dollars in the United States and 9.9 billion U.S. dollars in China, but only 2 billion U.S. dollars in Europe, he said.
Lundmark singled out a fragmented system of frequency allocation as a possible reason for the lack of interest by private investors and slower progress than in the U.S. and China. The 27 EU member states all handle frequencies separately.
While regulation is required, he said, the use of AI in the capacity control of a telecommunications network or in the management of gas turbine emissions, for example, should be regulated differently than systems related to privacy concerns.
Funding for research and development has been increased, he said, “but the results are not convincing.”
Private investment is required, but the public sector must facilitate this through the education system and smart regulation that makes it possible to allocate capital on a market basis. “No public investment will help if the basic conditions are not right,” Lundmark added.
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Xinhua
