Luxembourg should become an AI hub: Chamber of Commerce presents 30 proposals!

Luxembourg should become an AI hub: Chamber of Commerce presents 30 proposals!

In its current report “LuxAIhub”, the Luxembourg Chamber of Commerce presented a comprehensive strategy for promoting artificial intelligence (AI) in the country. According to the information from Daily newspaper The report pursues 30 concrete recommendations to establish Luxembourg as an international hub for AI. Gérard Hoffmann, CEO of Proximus Luxembourg and head of the Chamber of Commerce's AI working group, sees this as an opportunity to strengthen Luxembourg's sovereignty through the use of AI.

A key objective of the Chamber of Commerce is to increase the productivity of the Luxembourg economy, which has been experiencing declines for over a decade, despite relatively high productivity in absolute terms. This increase in productivity will particularly affect the financial sector, which has been identified as a key area for the application of AI. Chamber of Commerce Director Carlo Thelen emphasizes the need to increase private investments and promote public-private partnerships (PPPs) to drive innovation in the AI ​​sector.

Recommendations and goals

The report suggests various measures. This underpins a proposal for an AI platform under the auspices of the Prime Minister that will coordinate the strategies of private and public sector players over five years. The Chamber of Commerce also recommends renaming the national data protection commission to “Luxembourg Data and AI Authority” in order to make the legal framework clearer.

Despite existing infrastructures such as the Meluxina supercomputer and sovereign cloud services in Luxembourg, it is emphasized that these resources are not being fully utilized. Many companies are also hesitant to integrate AI technologies due to uncertainties and data security concerns. A shortage of qualified professionals in software development, information systems and data analytics compounds these challenges. To address this problem, a center of excellence for AI and cybersecurity is being created in Luxembourg, initiated by Google and the University of Luxembourg.

Investment strategy and competitiveness

The Chamber of Commerce is calling for an improvement in the investment landscape in order to convert research potential into marketable results. The report lists several proposals to strengthen AI research, including introducing tax credits for companies with eligible research activities and exempting capital gains tax for venture capital funds that invest in AI start-ups. These measures are crucial to improve Luxembourg's competitiveness in the international context.

Overall, the Chamber of Commerce underlines the close connection between the defense sector and the development of AI technologies. Carlo Thelen highlights that Luxembourg is well positioned for the future, but rapid, coordinated action is required to fully exploit the opportunities that AI offers. The Chamber of Commerce sees the creation of incentives for new AI projects as a significant step forward in establishing Luxembourg not only as an economic but also as a technological pioneer in Europe.

Given the explosion of private investment in the USA and the resulting dependency, a clear strategy to strengthen one's own position in Europe is essential. The Chamber of Commerce therefore calls on political decision-makers to support the proposed measures in order to position Luxembourg as a key player in the field of artificial intelligence, as well Word reported.