[Google Executive Dismisses European Concerns Over U.S. Dominance in AI, Says Industry Competition Is Intensifying] Reported by Jinse Finance, on October 20, a senior executive at Google dismissed European concerns that U.S. companies are on the verge of dominating the artificial intelligence (AI) industry. He stated that fierce competition between major tech companies and a rapidly growing group of startups is driving prices down and creating new opportunities for European businesses. Kent Walker, President of Global Affairs and Chief Legal Officer of Google's parent company Alphabet, said in an interview with the Financial Times: 'Looking at the current AI landscape, the situation is astonishing... It's hard to imagine a market environment more competitive than this.' Walker pointed out that companies involved in the competition include major tech firms like NVIDIA, Meta, and SpaceX, U.S. AI labs such as OpenAI and Anthropic, France's Mistral, as well as 'six or seven, or even a dozen Chinese companies.' He remarked: 'What does this lead to? Prices are dropping at an incredible rate, and technological capabilities are advancing at an astonishing pace.' European Competition Commissioner Teresa Ribera is intensifying scrutiny of the rapidly evolving AI industry. EU officials are concerned that the dominance of existing U.S. tech giants may give them an unfair competitive advantage in the AI market, which is expected to become a key pillar of the EU economy. (Jin10)