‘Flexible policies needed to fit developing AI technology’ – Cardona

MEIB

“Malta believes that any policies put in place should be sufficiently flexible to meet the changing circumstances,” said Economy Minister Chris Cardona during the Competitiveness Council meeting in Brussels today. One of the main topics discussed was the impact of Artificial Intelligence (AI) on EU industry.

In a statement, it was said that Minister Cardona pointed out that “The EU is not operating in a vacuum but it is competing on the world stage with other economic giants.” He continued that this means there needs to be cooperation and an increased level of networking within Member States.

This would tackle the main problem which Member States are said to be facing, which is lacking human resources and technical expertise on the fast-developing industry. “Therefore, there needs to be particular emphasis on the exchange of best practices and a specific effort to push SME uptake and human resources,” Cardona said.

Discussions then turned to the Single Market and the competitiveness check-up, with the Market being touted as having eliminated barriers allowing free movement of products between Member States. “Since our accession in the European Union, Maltese enterprises, which tend to be small and mediumsized enterprises in nature, have been tapping into the opportunities of the Single Market particularly within the manufacturing and services sector,” said Cardona.

He added that “Malta firmly believes that steps should be taken to ensure that one has the necessary actions and incentives that encourage the removal of technical and non-technical barriers that exist in the area”. This pointing towards the idea that too much bureaucracy, which has always plagued the EU, comes to the detriment of overall competitiveness.