Leading the next industrial revolution: embracing digitalisation for Europe’s future

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Digital & Data Governance

09 to 10 Dec 2024

starts 17:00

ends 14:00

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This year’s TCS European Policy Summit (TEPS 2024) organised by Friends of Europe in collaboration with TCS, will explore how Europe can lead the next industrial revolution and how it can capitalise on its strengths while embracing the potential for digital transformation and innovation. This summit brings together leaders from the public and private sectors in a strategic dialogue through a working dinner and a two-session conference.

While the EU has been at the forefront of previous industrial revolutions, it now faces record-high public debt and challenges stemming from recent crises, including COVID-19, conflict and energy instability. The Draghi report warns that without a speedy rethink of its industrial and competitiveness policies, Europe is falling behind the US and China. In today’s environment, where innovation in digitalisation and AI outpace policymaking, it is high time for Europe to reflect on its ambitions, current gaps, strengths and establish a new modus operandi for governments and private sector to address these ambitions jointly. The foundation of this new industrial revolution lies primarily in a digital transformation that, if harnessed effectively, can drive resilience and competitiveness by transforming public and private sectors alike. It must be focused on meeting both the economic and environmental demands of tomorrow.

What lessons can be learnt from the last mandate and how are they reflected in the upcoming Commission’s priorities for boosting EU competitiveness?

What mechanisms of enhanced collaboration should be put in place to foster sustainable economic growth and competitiveness?

In which ways can digitalisation reshape industry and government services to address the current record public-debt?

If the past four years are anything to go by, we know that crises are what we will need to manage effectively and ahead of time whilst achieving sustainable economic growth and competitiveness. A practical debate on the path to reaching these ambitious goals is the purpose of this summit.

Related content:

Event | Towards a sustainable and digitalised EU economy

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Schedule

17.30 18.30

OPENING SESSION – Decarbonising without deindustrialising : Europe’s energy transition at a crossroads

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Expand OPENING SESSION – Decarbonising without deindustrialising : Europe’s energy transition at a crossroads

Geopolitical fragmentation and regional conflicts are creating major risks for the global energy system, both for energy security and for global action on reducing greenhouse gas emissions. These are top conclusions from the International Energy Agency’s latest World Energy Outlook, which examines how shifting market trends, evolving geopolitical uncertainties, emerging technologies, advancing clean energy transitions and growing climate change impacts are changing the outlook for global energy systems. For Europe, shaken by energy sector turbulence in recent years, this evolving outlook offers both challenges and opportunities. Europe is pursuing ambitious climate goals, but – as laid out in the Draghi report – decarbonising without deindustrialising is a priority concern for many European countries. And the continent also needs to address traditional dependence on fossil fuel exporters and risks of new dependencies for clean energy technologies.

What can Europe do to reconcile these different priorities? Even if the worst of the energy crisis has passed, Europe still faces significant energy price gaps to other major economies. But evolving energy markets may allow downward pressure on prices, providing breathing space for policymakers to step up investments in clean energy. And as the world enters a new era of clean energy manufacturing, the EU needs to act to maintain leadership in key clean technologies. Europe has slipped behind on competitiveness before, and should not repeat mistakes the clean technology manufacturing industries that will have a key role shaping the economies of the future.

Speaker

Fatih Birol

Executive Director of the International Energy Agency (IEA)

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19.00 21.00

POLICYMAKERS’ DINNER DEBATE – Europe’s digital future (by invitation only)

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Expand POLICYMAKERS’ DINNER DEBATE – Europe’s digital future (by invitation only)

This dinner offers a closed-door environment to discuss Europe’s competitiveness challenges. High-level representatives from policymaking, the private sector, and summit speakers will come together to reflect on the EU’s digital transformation ambitions, current gaps, and strengths. With the Draghi Report warning of the risk of the EU economy falling behind, this dinner will provide an exclusive opportunity to debate how Europe can future-proof its economy, reduce public debt and take the lead in the next industrial revolution, setting the stage for deeper discussions at the summit’s sessions.

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Continue to Day 2

09.00 10.30

SESSION I – Digitalising Europe: a paradigm shift transforming industry and public services

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Expand SESSION I – Digitalising Europe: a paradigm shift transforming industry and public services

In an era defined by rapid advancements, industries and government services across sectors are facing a critical moment of transformation. Innovation is reshaping health, energy, education and other key fields, promising to enhance service delivery, improve efficiency and support economic resilience. For Europe, this transformation offers a pathway to adapt to pressing challenges, from labor market impacts to public debt, while also addressing privacy and competitiveness concerns. As businesses and governments navigate this evolving landscape, the focus shifts to how they can harness these changes to strengthen resilience, accelerate carbon reduction and ensure sustainable growth in a highly competitive global environment.

How does digitalisation redefine traditional industry practices and government operations?

What role does the digital sector play in boosting the competitiveness of European industries in the context of record-high public debt?

What strategies can ensure these technologies drive growth and competitiveness across public and private sectors?

What potential scenarios could unfold for the productivity of EU businesses compared to their economic competitors?

This panel discussion deep dives into the transformative impacts of digital transformation and AI development, setting the stage for strategic insights and proactive measures to thrive in this dynamic era of innovation.

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11.00 12.30

SESSION II – From vision to action: practical steps for reducing public debt and enhancing competitiveness

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Expand SESSION II – From vision to action: practical steps for reducing public debt and enhancing competitiveness

The Draghi report calls for an uptake in innovation across sectors, aiming to revitalise traditional industries to keep Europe competitive on a global scale. Currently, EU member states are off track toachieving the Digital Decade targets, with Europeans lagging in digital literacy and business adoption of new technologies. The Digital Decade 2024 report highlights that businesses implement new technologies and innovative practices at a slow rate: SMEs’ annual growth in technological integration stands at just 2.5%, only half the rate needed to meet the 2030 target. Similarly, public and private investments fall short of what is needed to achieve goals for innovation and entrepreneurship. As both private and public actors play a central role in enabling an inclusive and comprehensive transition, stronger dialogue and cooperation among these sectors will be essential.

What practical steps are necessary to support widespread digital and AI integration across industries and government services?

How can entrepreneurship and skills development be leveraged to drive sustainable growth in the digital age, ensuring the EU keeps pace with digital leaders such as the US and China?

What tools can be used to boost innovation and investments for increasing the competitiveness of EU businesses in the digital sector?

What role can digital and AI-driven innovation play in reshaping Europe’s industrial foundation to be more resource-efficient and climate-resilient, while also addressing current challenges like public debt and the economic impacts of recent crises?

Drawing on experiences and expertise from industry leaders and policy experts, this discussion delves into the essential ingredients needed to foster innovation and entrepreneurship and prepare for the future challenges and opportunities presented by digitalisation and AI.

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Speakers

Dr Fatih Birol has served as Executive Director of the IEA since 2015, taking up his current position after rising through the ranks of the IEA over two decades. He has been named in TIME’s annual list of the world’s 100 most influential people and by Forbes as one of the most influential people in the world of energy. He chairs the World Economic Forum’s (Davos) Energy Advisory Board and is the recipient of numerous state decorations, including the French Legion of Honour and the Japanese Emperor’s Order of the Rising Sun.

Alexander de Croo is a Flemish liberal politician, economist and businessman who leads the Belgian government’s efforts to improve digital growth and development. Most notably, he initiated the establishment of an advisory board called “Digital Minds for Belgium”, made up of the country’s top ICT experts, and launched an ambitious action plan “Digital Belgium”, aimed at positioning the country as one of Europe’s top three digital member states. This digital revolution includes developing 1,000 new start-ups, creating 50,000 new jobs, and achieving an electronic government by 2020.

The former president of Lithuania and European commissioner, Dalia Grybauskaitė currently serves as the Co-Chair of the United Nations High-Level Panel on International Financial Accountability, Transparency and Integrity (FACTI). Previously, she has chaired the Council of Women World Leaders and held several positions as a Lithuanian diplomat and politician, including as the country’s finance minister, as well as minister plenipotentiary at the Lithuanian embassy to the United States and at the Lithuanian Mission to the EU. Notably, Grybauskaitė played a key role in improving the relations between Lithuania and the EU as the deputy chief negotiator of Lithuania’s Association Agreement with the EU.