AI technology is making significant strides globally, particularly bolstering the growth of startups in nations such as Belgium and Italy. This disputes the belief that large players like Microsoft almost solely control AI.
SMEs in such countries are proving AI’s increasing relevance in sectors beyond technology, like agriculture, healthcare, and manufacturing, indicating new economic growth and competition channels. Belgium and Italy, specifically, show how commitment to AI has positioned their enterprises for global competition.
Also, Brussels signifies Europe’s tech hub, reflecting the disruptive impact of AI on startup scalability strategies. Increasingly, Belgium and Italy are outpacing tech behemoths like the UK, Germany, and France, reflecting a shift in innovation and technological progress.
The Financial Times has recognized Belgium’s surge by including it on the list of rapidly growing companies for the first time.
AI propelling global startup advancement, challenging tech giants
Similarly, in Italy, firms such as Bidberry, The Sense Experience Resort, and WECO are among the fastest growing in Europe.
Belgium’s growth can be linked to its entrepreneur-friendly government policies and innovative personalities. Jürgen Ingels, a key supporter of Belgian tech companies, emphasizes AI’s transformative power to foster unique business models. Belgium’s educational system plays a significant role in building a tech-savvy workforce, with boosted investments in STEM education and professional development.
Contrarily, US tech giant Intel reported a $7 billion operating loss in its chipmaking division last year. Yet, it remains motivated to improve by focusing on chip technology and innovation to regain its leading semiconductor position and compete with TSMC.
Finally, Slack’s Chief Product Officer, Tamar Yehoshua, is due to leave the company, signaling a new phase for the firm. On a similar note, consulting firm McKinsey is offering some managers severance packages equivalent to a full nine months’ pay, which ignites a discussion on the benefits of such packages to employees.
