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With AI, Europe has within its reach the biggest productivity opportunity the world has seen since computers and the internet. Much of Europe missed that last wave. It cannot afford to miss this one. It is a chance to break out of decades of sluggish growth and meet the costs of an ageing society.

That is if it makes the right decisions, makes them quickly, and manages the risks without giving up the upside. It would mean higher wages, rising living standards and the revenue to fund public services without relying…

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