Sonali De Rycker, a general partner at Accell, is one of Europe’s most powerful and highest-profile venture capitalists. She has commented extensively on the present and future of artificial intelligence (AI) in Europe and beyond. De Rycker has lots of experience making investments in more than 70 cities across Europe and Israel. That’s provided her with a distinctive vantage point on the continent’s often fragmented but rapidly expanding tech ecosystem.
De Rycker is broadly positive about what Europe can do to improve its position in the global AI sector. She sounds the alarm on regulatory frameworks, most specifically the proposed AI Act. She points out an important difference between Europe and the US in how the latter is welcoming the creation and deployment of these technologies. As De Rycker argues, even as the U.S. charges ahead at breakneck pace, there are hurdles Europe will need to clear to realize its full potential.
In reflecting on the AI landscape, De Rycker stated, “We feel very comfortable with the application layer.” This comfort comes from her assumption that European founders are doing what’s new and novel in the same way as their U.S. peers. “These founders look no different,” she said, adding that talent and ideas are everywhere across the continent.
De Rycker has expressed concern that the AI Act would have a chilling effect. She finds that its overly expansive scope and harsh penalties may actually stifle innovation rather than support it, and disincentivize investment. If we go all in on regulation, we will smother the innovation we need to be competitive on a global scale,” she cautioned.
The new general partner at Accel said that Europe needs to focus on independence and sovereignty as society transitions into this new technological world. “Now that Europe is being left to fend for itself in multiple ways, we need to be self-sufficient. We need to be sovereign,” she asserted. All these factors are making Americans especially sensitive to geopolitical uncertainty. At the same time, the U.S. is turning its attention inwards.
De Rycker likens the current state of tech in Europe to the early days of mobile technology. It’s reminiscent of the early days of mobile,” she said. “DoorDash and Uber weren’t just mobilized websites. They were brand new paradigms.” This comparison indicates that Europe is on the cusp of a major new era in AI production.
She stressed that if Europe could function as a whole, unified place, it would be able to tap into a power and innovation like never before. “If we were truly one region, the power you could unleash would be incredible,” said De Rycker. This vision exemplifies her conviction that working together, beyond borders, is the only way to truly unlock potential.
De Rycker is optimistic about Europe’s chances in AI. “We’re expanding total addressable markets at a rate we’ve never seen,” she noted, highlighting the rapid growth opportunities available within the sector.
De Rycker’s remarks are a very encouraging sign of a forward-looking approach to shaping the future of AI in Europe. With her experience and understanding of the industry, she encourages stakeholders to embrace innovation rather than allow regulatory frameworks to hinder progress.
