The IMF projects that artificial intelligence could lift European productivity by roughly 1% over a five-year window, according to a background note prepared for the informal meeting of EU finance ministers on September 18-19. Wealthier economies like Norway and Luxembourg are expected to capture a disproportionate share of these gains, while lower-income members like Romania risk being left further behind. Approximately 60% of workers in advanced European economies hold jobs that are highly exposed to AI, raising concerns about the displacement of administrative and data entry roles. European data centers currently consume around 3% of the continent’s total electricity supply, a figure projected to climb sharply as AI workloads expand.
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