EU Banks Urged to Pool Buying Power in Deals With US Tech Giants

AI Summary

EU banks are encouraged to combine their buying power to strengthen their negotiating position with US technology giants. This move aims to reduce Europe's reliance on foreign providers for critical services like AI and cloud computing, based on proposals from Dutch initiatives.

Banks and finance firms should combine their buying power to avoid losing out in negotiations with US tech giants, according to raft of Dutch proposals aimed at tackling Europe’s over-dependence on foreign providers of critical services such as AI and cloud computing.