Padraig Nolan

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Articles

A Fintech Turning Point: How Much Data Should Banks Share?

2 weeks ago | cepa.org | Padraig Nolan |Ronan Murphy |Bill Rosenblatt |Kayvan Hazemi-Jebelli

Fintech startups depend on access to data in order to offer digital banking, mobile payments, peer-to-peer lending, investment platforms, and other new services. Banks often resist giving their account information to potential competitors. Both European and American regulators are considering new rules to resolve this standoff about data access that are diverging in style, scope, and ambition—and the outcome could redefine global fintech leadership.
France Pursues an AI “Third Way”

2 months ago | cepa.org | Pablo Chavez |Christopher Cytera |Joshua Stein |Padraig Nolan

AI sovereignty emerged as an essential theme of the Paris AI Action Summit. Shortly before the summit started, President Emmanuel Macron stated that one of France’s strategic goals is to achieve technological sovereignty in AI. Some of this isn’t new. In 2021, France spearheaded efforts to establish “cloud sovereignty,” which eventually mandated stringent security and ownership restrictions on specific data centers owned by foreign companies in France.
Is DeepSeek a Robber or an Innovator?

2 months ago | cepa.org | Joshua Stein |Padraig Nolan |Oona Lagercrantz |Pablo Chavez

There is an old joke in pharmacology: the first pill costs $100 million, but the second pill costs 99 cents. A significant technological advance carries a huge, upfront cost and risk. China’s DeepSeek’s new Large Language Model R1 represents a case study of how second-mover companies can circumvent upfront research costs. DeepSeek’s success hit US tech companies hard because investors recognize this second-mover practice and know it is a real threat to American technological dominance.
Is Europe’s Competitiveness Compass Leading It Astray?

2 months ago | cepa.org | Padraig Nolan |Oona Lagercrantz |Pablo Chavez |Matthew Eitel

The new European Commission came to office vowing to end overregulation and promote competitiveness. Its new Competitiveness Compass proposes policies to achieve this goal. The Compass acknowledges, in the words of Commission President Ursula von der Leyen, that Europe must “fix our weaknesses to regain competitiveness.” With 70% of the new value created in the global economy over the next decade expected to be digitally enabled, Europe wants to stimulate innovation.
US Tech Antitrust Crusade Outdoes Europe

Nov 27, 2024 | cepa.org | Bill Echikson |Natalia Martinez |Padraig Nolan |Christopher Cytera

When the European Union passed its landmark Digital Markets Act, it included the power to break up Silicon Valley giants — but only as a last resort, a sort of nuclear option. Brussels limited itself to significant but marginal tweaks such as loosening control of the Google and Apple app stores and increasing interoperability between Meta’s WhatsApp and other messaging apps. The Biden administration wants to go further.
AI Safety Summit

Nov 24, 2024 | cepa.org | Alina Polyakova |Ronan Murphy |Bill Echikson |Padraig Nolan

Ronan MurphySo good afternoon, everybody. Thank you very much for joining this call. This is a press briefing hosted by the Center for European Policy Analysis, and we’re going to be discussing issues in and around the upcoming AI Safety Summit and what might come from it, what might not. And we’re taking views from both sides of the Atlantic here today.
It’s Startup Season in Europe

Nov 20, 2024 | cepa.org | Padraig Nolan |Christopher Cytera |Maciej Bukowski |Natalia Martinez

Startups are hot. The incoming European Commission promotes them. Giant industry events this month such as Lisbon’s Web Summit and Helsinki’s Slush celebrate them. According to a new report from venture capital firm Atomico, Europe’s tech talent pool is growing rapidly and on track to equal the US within the next five years. The continent currently has more than 3.5m skilled tech professionals.
Digital Draghi: Europe Needs Tech to Stay Competitive

Sep 11, 2024 | cepa.org | Padraig Nolan

Draghi’s long-awaited report will help shape the agenda of the incoming European Commission. Gone is the push for additional regulation. Gone, too, is a ringing endorsement of free trade. In is a need for increased support for European champions, European integration, investment, and deregulation. Whether the new recipe will prove effective — or politically palatable — remains in doubt.
Across the Pond for Profits: European Startups Head to the US

Jun 21, 2024 | cepa.org | Padraig Nolan

Sweden’s Spotify, founded in 2006, introduced music streaming in Europe before moving the bulk of its operations to the US. Stripe, founded by two Irish brothers, became a major global player in payment services as a US headquartered enterprise. Portugal’s Sword Health entered the US market in 2020, allowing it by the following year to reach a unicorn $1 billion valuation. For Europe, it’s a troubling trend.
Europe Declares War on Tech Spoofing

May 29, 2024 | cepa.org | Padraig Nolan

The caller ID on the messaging app showed a bank name and requested a money transfer to pay for a purchase. Once the money was sent, the messenger and the funds vanished. This fraud, known as spoofing, impersonation scam, or authorized push payment fraud, deceives consumers by masking a hacker’s identity as a trusted source and stealing their credentials. European policymakers are determined to confront this spoofing scourge.