Top 3 tech, startup and sustainability stories of the week, 18th

This week’s stories are about AI, startup and sustainability

1-EU startups! Unite under EU Inc

A group of European startup investors has issued a call to action for startups across the EU to unite under a new corporate structure dubbed EU Inc. A petition launched by the group proposes this initiative as a way to position Europe as a global hub for innovation. It aims to address the fragmented nature of the European startup ecosystem, standardize investment processes, simplify cross-border operations, and digitize company formation procedures.

The ambitious vision of EU Inc. is for Europe to host its first trillion-dollar tech company—founded, for example, in a Krakow garage—by 2035. The initiative envisions Europe taking a leading role in sectors such as quantum computing, robotics, and climate technology. Advocates believe that Europe’s diversity and decentralized talent pool have the potential to make it a global leader in innovation and entrepreneurship.(By the way I have a story here about Turkish AI startup ecosystem)

Europe’s startup landscape faces challenges from regulatory barriers, fragmented capital investments, and limited cross-border collaboration. Unlike in the U.S., where investors can easily operate across state lines, European funding remains confined by national borders. This lack of cohesion hampers growth and limits the potential of startups across the continent.

The petition, available on eu-inc.org, has already garnered over 13,000 signatures as of November 20, including support from 600 investors, 9,000 startups, and 20 organizations. Supporters have until December 1 to sign, as the EU’s new leadership, including the inaugural Commissioner for Startups, Research, and Innovation, will take office on that date. European Commission President Ursula von der Leyen has appointed Ekaterina Zaharieva to lead the commission.

EU startups! Unite under EU Inc!

2-O2 introduces AI-powered ‘Granny’ to tackle fraud

O2, UK-based telco, announced a groundbreaking tool to its fraud prevention efforts with the introduction of “Daisy,” an AI-powered “Head of Scammer Relations.” Daisy’s role is to engage fraudsters in lengthy, human-like conversations, wasting their time and preventing them from targeting real victims.

Trained in collaboration with YouTube scambaiter Jim Browning, Daisy is indistinguishable from a real person. Operating 24/7, she engages scammers in meandering conversations, sharing made-up stories and false personal details to mislead and frustrate them. In some cases, Daisy has managed to keep fraudsters on the line for up to 40 minutes, significantly reducing their capacity to scam others.

Let me note that Amy Hart, a reality TV star and influencer, has joined the campaign after her own harrowing experience of losing over £5,000 to a scam. She praised Daisy’s efforts and urged people to stay cautious. “If you have even the slightest doubt, hang up and call back on a trusted number,” Hart advised.

As supporting evidence, O2’s research shows that 71% of Brits want to fight back against scammers, but over half (53%) avoid doing so to save their time. With nearly seven in ten people (67%) worried about being targeted and one in five (22%) facing fraud attempts weekly, Daisy is stepping in to take the fight to fraudsters.

O2 introduces AI-powered ‘Granny’ to tackle fraud

3-Extreme weather events cost over $2 trillion in global economy

A recent report by the International Chamber of Commerce (ICC) reveals that extreme weather events driven by climate change have inflicted over $2 trillion in economic losses globally between 2014 and 2023. The study, The Economic Cost of Extreme Weather Events, analyzed more than 4,000 incidents, including severe rainfall, floods, and landslides, highlighting the escalating financial toll of climate-related disasters. Extreme weather caused $451 billion in damages to the global economy in just the past two years, per the report.

The United States experienced the highest economic impact during the period, incurring losses of approximately $935 billion. China followed with $268 billion, while India faced $112 billion in damages. Other significantly affected countries included Japan, Germany, Australia, France, and Brazil, which ranked among the top 10 countries hit hardest economically, the report underlined.

Beyond financial losses, the report noted that around 1.6 billion people were affected by extreme weather events over the last decade, according to the report. ICC Secretary General John Denton emphasized the urgency of addressing climate change, stating, “The data from the past decade makes it clear that climate change is not just a future problem. Its economic effects are already being profoundly felt today.”