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Chip lack addressed by US-EU technology partnership

Chip lack addressed by US-EU technology partnership

Production of more computer systems chips in Europe and the US will be among the essential focuses of a brand-new innovation partnership in between both. The Trade and Technology Council (TTC) was revealed complying with talks between European commissioner Margrethe Vestager and US Head of state Joe Biden.

The team will likewise look to establish typical requirements for innovations such as artificial intelligence. Both sides are worried about the increase of China as an innovation superpower. A declaration on the top consists of a promise to develop “EU-US collaboration on the rebalancing of worldwide supply chains in semiconductors”.

The pandemic has resulted in worldwide chip shortages and subjected weak points in supply chains, triggering shortages of consumer electronic devices, such as video pc gaming consoles, in addition to decreasing manufacturing of vehicles. Last month, IBM president Jim Whitehurst stated the lack might last for another 2 years.

The EU wishes to enhance its share of the worldwide chip-manufacturing market from 10% to 20% and has guaranteed $150bn (£100bn) to the initiative. On the other hand, the US has assigned $52bn to domestic chip production.

The TTC will likewise consist of functioning teams on:

AI
the internet of things
climate
green technology
info and interactions innovation security
In addition to taking a look at collaboration and requirements, the teams will likewise evaluate the “abuse of innovation endangering security and civil rights”.

Chip lack addressed by US-EU technology partnership

Image Credits: BBC

OVERVIEW:

Production of more computer systems chips in Europe and the US will be among the essential focuses of a brand-new innovation partnership in between both. A declaration on the top consists of a promise to develop “EU-US collaboration on the rebalancing of worldwide supply chains in semiconductors”. The EU wishes to enhance its share of the worldwide chip-manufacturing market from 10% to 20% and has guaranteed $150bn to the initiative.

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