Editor’s Note: European technology leaders are no longer waiting for change—they’re driving it. One year after Mario Draghi’s urgent call to close Europe’s competitiveness gap, 41 top tech CEOs have issued a powerful declaration of action, transforming policy diagnosis into strategic commitment. Their collective pledge marks a turning point, directly confronting structural weaknesses Draghi highlighted—from fragmented regulation and lagging productivity to digital dependency. For cybersecurity, information governance, and eDiscovery professionals, this coordinated industry movement isn’t just a macroeconomic headline—it’s a roadmap for the frameworks, technologies, and compliance requirements that will shape European digital infrastructure for the next decade.
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Industry News – Technology Beat
European Tech CEOs Answer Draghi’s Call with Landmark Innovation Declaration
ComplexDiscovery Staff
Like the captain of a ship sounding the alarm about dangerous waters ahead, former European Central Bank President Mario Draghi issued his stark warning to Europe on September 9, 2024: without decisive action to address its €800 billion investment gap and declining productivity, the continent would face “slow agony” if it failed to catch up with its rivals. His comprehensive 400-page report on “The Future of European Competitiveness” served as both diagnosis and prescription for Europe’s economic malaise, calling for radical transformation in innovation investment, regulatory simplification, and digital sovereignty.
Exactly one year later, forty-one of Europe’s most influential technology CEOs have answered that call with their own declaration, transforming Draghi’s economic blueprint into an industry-wide commitment to action. The European CEO AI and Critical Technology Declaration, released on September 9, 2025, represents more than corporate advocacy—it signals Europe’s technology leadership accepting responsibility for implementing the fundamental changes Draghi identified as essential for continental survival in global competition.
Understanding the Draghi Foundation
The Draghi report emerged from European Commission President Ursula von der Leyen’s recognition that Europe needed an honest assessment of its competitive position. Draghi, who famously saved the euro in 2012 by promising to do “whatever it takes,” was tasked with providing his “personal vision on the future of European competitiveness.” His findings painted a sobering picture of systematic disadvantages threatening Europe’s economic future.
The report documented alarming trends in European productivity and innovation capacity. EU labour productivity has significantly declined relative to the United States since the mid-1990s, representing a reversal of decades of convergence that has left Europe substantially behind American productivity levels. The EU’s share of global GDP has declined substantially since 1980, while the United States maintained its position. Perhaps most concerning, only four of the world’s top fifty technology companies remain European, while the EU’s share of global tech revenues dropped from 22% to 18% in the past decade as the United States increased from 30% to 38%.
Draghi’s diagnosis revealed structural problems extending beyond simple investment deficiencies. He found that 30% of European unicorn companies had relocated their headquarters between 2008 and 2021, primarily to the United States, due to regulatory barriers and financing limitations. No EU company valued over €100 billion has been founded in the past fifty years, contrasting sharply with the United States, where all six companies with valuations above €1 trillion were created during this period.
The report identified three critical transformation areas requiring immediate attention. First, Europe must close its innovation gap with the United States and China, particularly in advanced technologies. Second, the continent needs a coordinated plan for decarbonization that enhances rather than undermines competitiveness. Third, Europe must increase security and reduce dependencies on external suppliers, developing what Draghi termed a “foreign economic policy” to manage strategic vulnerabilities.
The CEO Response: From Diagnosis to Action
The forty-one CEOs signing the European AI and Critical Technology Declaration have essentially committed to implementing Draghi’s recommendations through private sector leadership and public-private collaboration. Their declaration, launched at the European Parliament in Strasbourg by DIGITALEUROPE, explicitly references the Draghi report while translating his academic analysis into actionable industry commitments.
Where Draghi identified regulatory complexity as a barrier to innovation, the CEOs pledge to “collaborate on digital projects creating real market demand and resilience” while supporting “swift regulatory reforms that simplify and harmonise business conditions.” This commitment addresses Draghi’s finding that European companies face disproportionate regulatory burdens that prevent scaling and international expansion.
The declaration’s emphasis on “coordinated European investment in trusted technology” directly responds to Draghi’s call for massive infrastructure spending and his warning about dependencies on “high-risk suppliers.” The CEOs’ commitment to invest in European digital sovereignty aligns with Draghi’s argument that Europe must develop indigenous capabilities in critical technologies to avoid strategic vulnerabilities.
Cybersecurity Implications of European Digital Transformation
For cybersecurity professionals, the CEO declaration’s implementation of Draghi principles creates both opportunities and responsibilities. Draghi’s report emphasized the need for “genuine economic security” requiring increased defense spending and more autonomous defense industries. The CEO’s commitment to “trusted technology” procurement will likely prioritize European cybersecurity solutions, creating market advantages for companies demonstrating clear technological sovereignty.
The declaration’s focus on reducing dependencies while maintaining global engagement requires sophisticated cybersecurity frameworks capable of protecting European digital infrastructure without creating operational isolation. Cybersecurity vendors serving European markets will need to demonstrate not only technical effectiveness but also compliance with evolving sovereignty requirements that extend beyond current data localization mandates.
Draghi’s identification of competitive pressures in nearly 40% of sectors previously dominated by European companies suggests cybersecurity considerations will increasingly influence procurement decisions. The CEO’s declaration’s emphasis on “dual-use technologies” indicates integration between civilian cybersecurity needs and defense requirements, potentially expanding market opportunities for innovative security solutions.
Information Governance in the New European Framework
The transformation envisioned by both Draghi and the CEO signatories requires updated information governance frameworks capable of supporting European digital sovereignty while enabling global business operations. Draghi’s call for completing the Capital Markets Union to channel household savings toward productive investments requires governance systems that can manage cross-border data flows while maintaining privacy protections.
The CEO’s declaration’s support for “Common European Data Spaces in strategic domains” builds on Draghi’s recommendation for sectoral coordination and investment. Information governance professionals must prepare for frameworks that facilitate data sharing across European boundaries while maintaining compliance with existing and emerging privacy requirements.
Draghi’s emphasis on reducing regulatory burden while maintaining high standards suggests information governance practices will need to become more efficient without compromising protection levels. The CEO’s commitment to regulatory simplification indicates forthcoming changes that will require updated policies and procedures for data handling, particularly in contexts involving artificial intelligence and automated decision-making systems.
eDiscovery Considerations in European Competitiveness
The digital transformation outlined by Draghi and embraced by the CEO signatories will reshape eDiscovery practice across European jurisdictions. Draghi’s call for completing the Single Market and harmonizing business conditions suggests movement toward more consistent legal frameworks for cross-border proceedings.
The CEO declaration’s emphasis on artificial intelligence development, supported by Draghi’s recommendation for massive technology investment, will enable more sophisticated document review and analysis capabilities. However, implementation must address Draghi’s concern about maintaining European values while competing globally, requiring careful attention to bias prevention and transparency requirements.
Draghi’s identification of fragmented markets as a barrier to European competitiveness extends to legal technology services, where eDiscovery providers often face different requirements across member states. The CEO’s commitment to harmonized business conditions suggests opportunities for standardized service offerings that can scale across European markets more effectively.
Investment and Infrastructure Evolution
The CEO declaration represents industry acceptance of Draghi’s central argument that Europe requires massive coordinated investment to restore competitiveness. Draghi estimated annual investment needs of €750-800 billion, acknowledging this represents a fundamental shift in European economic policy comparable to the Marshall Plan in scale. The CEO’s commitment to “co-invest and collaborate” indicates private sector readiness to participate in this transformation.
Draghi’s proposal for a European Advanced Research Projects Agency (ARPA) and enhanced European Investment Bank involvement creates institutional frameworks for channeling investment toward critical technologies. The CEO’s declaration of support for “digital projects creating real market demand” suggests industry readiness to participate in coordinated infrastructure development that extends beyond individual company interests.
The emphasis on “agile investments” in the CEO declaration addresses Draghi’s finding that European innovation cycles are too slow to compete with American and Chinese counterparts. This acceleration requirement will influence how cybersecurity, information governance, and eDiscovery technologies are developed and deployed across European markets.
Skills and Professional Development Requirements
Both Draghi’s analysis and the CEO declaration acknowledge that technological transformation requires substantial workforce development. Draghi’s emphasis on “lifelong learning to upgrade workers’ skills” recognizes that existing European talent must adapt to new technological requirements. The CEO’s declaration of commitment to implementation “in the next one to three years” creates urgency around professional development programs.
For cybersecurity professionals, this evolution requires competencies in AI-assisted security analysis, automated threat detection, and European sovereignty compliance frameworks. Information governance practitioners must develop expertise in cross-border data management, automated compliance systems, and artificial intelligence governance. eDiscovery professionals need skills in AI-assisted document review, automated data analysis, and multi-jurisdictional legal frameworks.
The CEO declaration’s emphasis on European technological leadership suggests increased demand for professionals who can navigate both technical capabilities and regulatory requirements across multiple European jurisdictions. Organizations will need leaders who understand both the technological possibilities Draghi identified and the implementation challenges the CEOs have committed to addressing.
Strategic Implications for European Technology Ecosystem
The alignment between Draghi’s recommendations and the CEO declaration creates a clear trajectory for European technology development over the next decade. Draghi’s warning about “slow agony” without action has been answered by industry commitment to investment and transformation. This convergence suggests European technology markets will undergo fundamental restructuring as sovereignty concerns influence procurement and development decisions.
Success in this evolving environment requires understanding both the technical capabilities needed for competitiveness and the regulatory frameworks that will govern their application. The CEO’s declaration’s emphasis on achieving results within three years creates immediate pressure for adaptation while Draghi’s longer-term vision provides strategic direction for sustainable development.
The forty-one CEO signatures represent a commitment that extends beyond individual company interests to encompass European technological independence. This collective approach addresses Draghi’s finding that fragmentation has been a primary source of European competitive disadvantage, suggesting coordinated industry development that could reshape global technology markets.
Like a ship’s crew responding to their captain’s navigation warnings, Europe’s technology leaders have accepted the challenge Draghi presented and committed to charting a new course. Their declaration transforms his economic analysis into industrial action, creating opportunities for professionals who understand both the technical demands of advanced technology and the regulatory frameworks that will govern its development. The next three years will determine whether this commitment can indeed restore Europe’s position in global technology competition, fulfilling Draghi’s vision of a continent that no longer accepts “slow agony” but instead chooses a technological renaissance.
News Sources
- Investing in Europe’s AI & Critical Tech: 41 European CEOs stand ready to invest in Europe’s Competitiveness and Security (DIGITALEUROPE)
- Mario Draghi’s competitiveness report: EU condemned to ‘slow agony’ if no change (Le Monde)
- The Draghi Report: A Strategy to Reform the European Economic Model (Center for Strategic & International Studies)
- Draghi’s plan to rescue the European economy: Will EU leaders do whatever it takes? (Centre for European Reform)
- The European CEO AI and critical tech declaration (DIGITALEUROPE)
- The Draghi report on EU competitiveness (European Commission)
Assisted by GAI and LLM Technologies
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Source: ComplexDiscovery OÜ