"The gap between countries that embrace innovation and those that hesitate, Draghi explained, will widen significantly in the coming years, which is why Europe is now facing a moment of truth: over the last twenty years, we have gone from being a continent that welcomed new technologies, narrowing the gap with the United States, to one that has progressively placed barriers to innovation and its adoption. We have already seen this in the first phase of the digital revolution, when European productivity growth fell to about half the US rate, with almost all of the divergence coming from the technology sector. Now this pattern is repeating itself with the artificial intelligence revolution. Last year, the United States produced 40 major fundamental models, China 15, and the European Union only three. The same pattern can be observed in many other frontier technologies, from biotechnology to advanced materials to nuclear fusion. [...] Economic history indicates that mass unemployment is not the most likely outcome. Previous technological revolutions suggest this."