EU Initiates Assessment of Strategic Technologies for Economic Security
TECH DIGEST- The European Union is set to scrutinize the impact of key technologies, including semiconductors, artificial intelligence (AI), quantum technologies, and biotechnology, on its economic security. This evaluation could potentially result in restrictions on exports and investments in third countries, with China being a prominent focus of concern.
The European Commission unveiled its European Economic Security Strategy in June, identifying technologies that, if shared or exported, could pose risks if used for military purposes or human rights violations by certain nations. The Commission has now compiled a list of four such technologies and intends to investigate an additional six in due course.
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The four technologies selected for immediate assessment include advanced semiconductor technologies (covering microelectronics and chipmaking equipment), AI (specifically data analytics and object recognition), quantum technologies (encompassing cryptography, communications, and sensing), and biotechnology (with a focus on genetic modifications and genomic techniques).
While the assessment is not explicitly targeted at any specific third country, the EU’s economic security strategy emphasizes collaborating with like-minded nations and reducing reliance on specific countries, most notably China.
The European Commission is also considering proposing risk assessments for additional technologies in early 2024. This move by the EU aligns with similar initiatives undertaken by the United States, Japan, the United Kingdom, and Australia in safeguarding their strategic technologies.
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