AI technology is making great strides globally, driving the growth of startups, especially in countries like Belgium and Italy. This challenges the idea that large companies like Microsoft have almost sole control over AI.
Small and medium-sized enterprises in these countries are attesting to the growing relevance of AI in areas beyond technology, such as agriculture, healthcare, and manufacturing, presenting new channels of economic growth and competition. Belgium and Italy in particular demonstrate how AI efforts are positioning companies to compete globally.
Brussels also stands as Europe’s technology hub, reflecting the disruptive impact of AI on startup scalability strategies. Belgium and Italy are increasingly outperforming technology giants such as the UK, Germany and France, reflecting changes in innovation and technological progress.
The Financial Times recognized Belgium’s rapid growth, adding it for the first time to its list of fastest-growing companies.
AI drives progress for global startups and challenges tech giants
Similarly, in Italy, companies such as Bidbury, The Sense Experience Resort and WECO are among the fastest growing companies in Europe.
Belgium’s growth can be linked to its entrepreneur-friendly government policies and innovative nature. Jurgen Ingels, a major backer of Belgian technology companies, highlights the transformative power of his AI to drive his unique business model. Belgium’s education system is playing an important role in building a tech-savvy workforce, with increased investment in STEM education and professional development.
By contrast, U.S. tech giant Intel reported a $7 billion operating loss in its chip manufacturing division last year. Still, the company remains motivated to focus on and improve its chip technology and innovation in order to regain its leadership position in the semiconductor industry and compete with TSMC.
Finally, Slack’s chief product officer, Tamar Yehoshua, is leaving the company, marking a new phase for the company. Similarly, consulting firm McKinsey & Co. is offering some managers severance packages equal to nine months’ salary, leading to growing debate about the benefits such packages can have for employees.
