A new report by the European Commission’s Joint Research Centre highlights the transformative potential of Generative AI (GenAI) across sectors like healthcare, education, manufacturing, energy, and the creative industries in the EU. It points to GenAI’s ability to drive innovation and productivity but also raises concerns about serious societal risks such as misinformation, algorithmic bias, job loss, and privacy issues. The report underscores the importance of strong governance to manage these challenges. It calls for a strategic policy framework that aligns GenAI with the EU’s existing regulations, including the AI Act and data protection rules, ensuring it supports democratic values and inclusivity. To support this vision, the Commission has launched the GenAI4EU initiative, backed by nearly €700 million in funding. This program aims to build a competitive and ethical AI ecosystem in Europe.

Read the full press release here.