Europe in the Global AI Race

This episode of Thoughts on the Market, recorded live from Morgan Stanley's European TMT Conference, explores whether Europe can keep pace with technology development, focusing on tech diffusion and agentic AI. Paul Walsh leads a discussion with Adam Wood, Emmet Kelly, and Lee Simpson, who provide insights on AI's impact on enterprise software, the role of hardware and semiconductors, and the implications for telcos and data centers. The conversation covers the potential expansion of the software sector, challenges to incumbents, the shift in focus from U.S. to European opportunities, and the infrastructure build-out needed for AI. The panelists address concerns about in-house coding, pricing pressures, and the telcos' involvement in the AI wave, setting the stage for further discussion on tech disruption and data center investments in the next episode.