The European Path to Digital Transformation

Prof Dr Heinrich: The European Path to Digital Transformation

Technologically speaking, two aspects of the mission-critical requirements for future digital business in Germany and Europe need to be mastered:

1. Understanding the technologies of the future and developing expertise in them: AS, AIoT and AR that will advance technical capabilities by orders of magnitude and therefore lie at the heart of the continual technological change.

2. Emphasis on core European specialties such as Security and Reliability. Done right, they to provide the rationale for a European differentiating factor & competitive advantage.

European approach is not to opt for destructive capitalism as does Silicon Valley. Nor does it favor state protectionism as does China.
Instead, European approach is based on global coverage and on digitally extending business models based on the technologies of the future and based on European skills.

These range from security, data protection, reliability, trustworthiness and providing impetus to secure infrastructures to European Smart Cities. These factors could evolve into a potent export model.

To ensure the global relevance of European contributions to value-addition, global alliances and ecosystems need to be further strengthened and utilized more intensively.