European Central Bank President Christine Lagarde said Europe must accelerate AI adoption while building domestic computing capacity, models and financing channels to protect economic autonomy. Speaking in Vienna on 14 September 2026, she warned that European companies mostly import AI technology, particularly from the United States, leaving border controls, tax administration, transport, health care and banking exposed if access is withdrawn or commercial terms change. Europe’s data-center shortfall could grow more than sixfold within a decade, while closing the gap could cost as much as €600 billion over 10 years. Lagarde said rapid adoption could lift productivity by up to 4% over a decade, helping offset an ageing population, a workforce expected to shrink by more than 1 million people annually over the next 25 years and more than €100 billion in yearly uncovered public investment needs. US technology companies are borrowing heavily in Europe, raising financing costs for other issuers, while European households and pension funds remain exposed to US technology stocks. She argued that Europe’s roughly €1.4 trillion in annual household savings should help finance domestic AI infrastructure and companies through deeper capital markets.