Prime Minister Xavier Bettel has held virtual meetings with several US tech leaders, discussing the global economic situation after one year of the COVID-19 crisis. Xavier Bettel has held in-depth talks with Chuck Robbins (CEO, Cisco), Dan Schulman (CEO, Paypal) and Jensen Huang (CEO, Nvidia). An update from American tech leaders, especially in these first days of the new presidential team, was of particular importance to the Prime Minister.
Among others, the discussions concentrated on the companies' strategies to adapt to an unpredictable health and market crisis, as well as the evolution of global trade. As leaders of the digital tech sector, both in the hardware and the services realm, the exchange proved valuable to gain an insight into the global trends of 2021's digital economy.
The deployment of 5G, as well as Artificial Intelligence and machine learning were pinpointed as major opportunities for the upcoming years. The amount of data created will further increase significantly. In this regard, setting up effective cybersecurity systems and rules for the protection of personal data is fundamental. Europe's GDPR is a valuable step in that direction.
Luxembourg has built up close relationships with Cisco, Paypal and Nvidia respectively.
A country digital acceleration plan was signed with Cisco in 2019. Through this plan, Cisco brings its expertise in cybersecurity and networking skills to Luxembourg's ecosystem. Paypal has inaugurated a dedicated financial technology chair at Luxembourg's university. Finally, Nvidia has set up in 2019 a productive research collaboration platform with the country's pre-eminent research actors.
"It was crucial to exchange with US tech partners in the beginning of this presidential term in the United States. Our enriching discussions included international trade, the respective sanitary situations, and of course, developments and trends in technology. Digitalization is advancing at an unprecedented speed, and Luxembourg has been investing for years in its infrastructure and networks. Initiatives are multiplying. We are positioning ourselves as a European leader in this field and I appreciate regular honest feedback from our trusted international partners", commented the Prime Minister.
Press release by the Ministry of State/ Department of Media., Telecommunications and Digital Policy