The European Union’s lack of technological innovation and urgency in bringing cutting-edge technologies to market is causing the European Union to lag behind the United States in competitiveness and living standards, the European Commission (EC) said in its annual report on competitiveness, enterprise policy and innovation.
“For most sectors, R&D (research and development) intensity is higher in the United States than in the European Union. Most strikingly, in office machinery and computers, research intensity in the United States is three times greater than in the European Union,” said Erkki Liikanen, Commissioner for Enterprise and the Information Society in a speech in Brussels Thursday.