Artificial intelligence is redefining the competitiveness of economies, companies’ capacity for innovation and the strategic positioning of countries. In this context, the development of advanced computing infrastructure has become central to Europe’s ambition to strengthen its technological autonomy and compete on a global scale.

The discussion put into perspective one of the structural challenges facing the European economy: turning technological capacity into gains in productivity and competitiveness.

The adoption of artificial intelligence could give fresh impetus to the transformation of companies and sectors of economic activity. Realizing that potential, however, requires more than access to technology. It requires computing capacity, investment, specialized skills and conditions that allow companies to innovate and grow at the scale needed to compete internationally.

In this context, the development of AI infrastructure takes on a strategic dimension for Portugal and for Europe, both for its contribution to technological autonomy and for the opportunities it could create for the business community.

Portugal has conditions that could make it more attractive for investment in digital infrastructure. Relevant factors include energy costs, the availability of electricity from renewable sources and the international connectivity provided by its network of subsea cables.

The country’s Atlantic location is also a potential advantage in developing links between Europe and other international markets.

The combination of these factors creates an opportunity for Portugal to strengthen its position in the European artificial intelligence ecosystem. To seize it, it will be essential to turn international interest into actual investment, ensuring the right conditions for execution, predictability and coordination among the different stakeholders.

The impact of an AI infrastructure is measured not only by the computing capacity installed, but also by the economic activity and innovation it manages to generate.

The link between companies, universities and research centers will be decisive in developing skills, attracting researchers and bringing scientific knowledge closer to the needs of the market. At the same time, supporting entrepreneurship and the creation of companies specializing in artificial intelligence could help turn technological capacity into new products, services and business opportunities.

International cooperation, including coordination between European and American partners, could also play an important role in mobilizing investment, knowledge and skills.

Delivering projects of this scale involves challenges that go beyond financing and building infrastructure. The complexity of administrative processes, coordination between entities, the availability of resources and the ability to attract and develop talent are factors that can affect the pace of implementation and the economic impact of the investments.

The goal is to ensure that Portugal does not merely provide infrastructure, but develops the conditions needed to create value from it, strengthening the innovation, productivity and competitiveness of its economy.

The meeting provided a space to reflect on the opportunities linked to the development of the AI Gigafactory and on the conditions needed for Portugal to play a more significant role in the European artificial intelligence ecosystem.

In a context of accelerating technological change, the ability to combine infrastructure, investment, talent and innovation will be decisive in turning competitive advantages into concrete and lasting results.

AmCham Portugal thanks Luís Viegas Cardoso, AI Gigafactory Lead at Banco Português de Fomento, and Rui Teles, Vice President of Accenture Portugal, for taking part and sharing their perspectives, as well as all participants for their contribution to the discussion of a strategic topic for Portugal’s technological and economic future.