All Eyes On Critical Technology In The EU

The European Commission's Recommendation on critical technology areas for the EU's economic security, issued on October 3, 2023, kick-started an urgent risk assessment by policymakers and private sector stakeholders across the European Union. While this work will be completed over the next few months, policymakers have already given a strong indication that four technology areas – advanced semiconductors, artificial intelligence, quantum technologies and biotech – are critical for the EU's economic security. Expect not least tightened foreign investment reviews down the line.

New strategy for European economic security

The European Commission's Recommendation forms part of the EU's new European Economic Security Strategy, adopted in June 2023 and developed further at the EU summit in Granada, Spain. The strategy is based on a three-pillar approach: promotion of the EU's economic base and competitiveness, protection against risks, and partnership with the broadest