Shaping the Economic Impact of Artificial Intelligence Keynote

Bundesbank President Joachim Nagel delivered a keynote at the International Economic Symposium in Rome on 21 April 2026 about shaping the economic impact of artificial intelligence.

• Main announcement/action: The Bundesbank has approved a comprehensive strategy for artificial intelligence and reports that two out of three Bundesbank colleagues use AI regularly; Nagel called for Europe to accelerate financing, scaling, infrastructure, skills, energy and market integration, highlighting EU-level initiatives such as the AI Act (entered into force 1 August 2024) and the InvestAI initiative (launched February 2025) aiming to mobilise €200 billion, including a €20 billion fund for AI gigafactories.
• Background and details: Nagel summarised cross-country AI investment figures — US private AI investment USD 109.1 billion (2024), China private USD 9.3 billion; China government AI investment USD 62 billion; Europe private USD 19.4 billion; EU government AI investment about USD 1.2 billion — and flagged energy/infrastructure constraints including data centers consuming about 415 TWh/year (≈1.5% of global electricity in 2024) and the forthcoming EU Data Center Energy Efficiency Package expected in 2026.