What’s in store for the European Siliconomy in 2024

As I close out six months in my new role leading Intel’s EMEA region, I want to thank my team for coming along with me on this wonderful journey. We’ve achieved a lot together in 2023, and my focus is now starting to shift to what’s in store for us in 2024.?

While an unpredictable socioeconomic climate lends a degree of uncertainty in relation to global events, I wanted to take a moment to share my thoughts about how our industry will evolve in the next year, and the strides that I expect Intel to make across EMEA and beyond.?

My three predictions for 2024 are all underpinned by an expectation that the pace of change driven by digitalization continues to advance in increasingly exciting ways.

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At a glance – the European Siliconomy

Progress is ever more reliant on digital processing power, and everything digital is reliant on silicon. This is the basis of the Siliconomy . The abundance and affordability of silicon chips is now fundamentally linked to continued economic growth.

In a sense, Silicon itself has become one of the most critical components of our everyday lives, and I’m thrilled to see the way it’s creating a better future for everyone through the facilitation of smarter technology with more accessible, sustainable processing power. There are three specific areas where I expect us to see the Siliconomy drive innovation in 2024:

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Prediction 1: AI will continue to advance and disrupt?

The attention of the world has been fixed on Generative AI, driving a profound adoption of the terminology. It’s unsurprising, given the seismic waves the technology has already created across multiple industries since the launch of Chat GPT in late 2022.?

AI has the potential to improve the life of every person and industry on the planet – from healthcare to finance to environmental protection – if it’s implemented in the right way. And even with the enormous innovation we’ve seen in the AI space recently, we’re still only in the early stages of realizing its potential.?

For example, AI is so much more than large language models i.e. chatbots. Our customers support varying workloads that move from the cloud to the edge, and they require a broad portfolio of software, hardware, and solutions to meet their needs. That’s why I’m excited about Intel’s unique opportunity at the intersection of semiconductors and AI to match customer needs and to bring AI Everywhere .

In late 2022, Deloitte Global predicted that world’s leading semiconductor companies?will spend US $300 million on internal and third-party AI tools for chip design in 2023, and that number is expected to grow by 20% annually to surpass US $500 million in 2026.?

As AI continues to evolve, I’m thinking about some of the real places it’s going to show up in 2024, both in our everyday lives and during major global events. The role that Intel will play in the Olympics and the ways we’re partnering with others to bring AI platforms to the games is a great example of this.

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Prediction 2: Upskilling and talent development will flourish?

We have high ambitions for EMEA in 2024, and success in achieving our goals will be reliant on nurturing and sourcing seriously talented people. This growing need for a highly skilled workforce is also reflected more broadly across the industry at large, and it must remain a priority for organizations in the region.?

To put this into perspective: the semiconductor workforce, which was estimated at more than two million direct employees worldwide in 2021, will need to grow by more than one million additional skilled workers by 2030, according to Deloitte’s 2023 semiconductor industry outlook . Developing the next generation of talent required will call for continued close collaboration between the tech sector and academic institutions.?

At Intel, we understand the importance of investing in STEM education across the region to establish a robust pipeline of skilled workers. One of my favorite initiatives, the Intel Skills for Innovation Initiative , is empowering educators across EMEA as they lead digital learning experiences and facilitate future skill-building in a post-pandemic world.??

We plan to continue and enhance our longstanding relationships with the academic community across EMEA in 2024 in order to optimally nurture innovation in Europe – for example, working particularly closely with research institutes including IMEC in Belgium, UCL and University of Cambridge in the UK, CEA-Leti in France and the Fraunhofer institutes in Germany to strive for even higher standards of excellence.?

I’m really proud of our focus on upskilling the EMEA talent pool – which is already paying off. When we look at Magdeburg, Germany, where we plan to build two new leading-edge wafer fabrication facilities, Intel has built a team of both local and global talent and started to play our part in the community within the region. Katrin Kugust , who was born and raised in Magdeburg and is now one of our process mechanical engineers there, recently shared her perspective, saying

“The outreach campaigns have put Intel on the radar of students and people just starting out in their careers. In comparison to previous generations, they know that there is opportunity to prosper by staying in the city. I hope that other companies use Intel’s approach as a blueprint when coming to Magdeburg.”

?To me, community is a crucial part of expanding our footprint to meet customer need. I've seen this first hand as we’ve expanded in Ireland and I'm excited for both the Magdeburg and Wroclaw communities to continue on the journey towards what lies ahead. ?

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Prediction 3: Delivering on sustainability objectives will be paramount?

Sustainability simply must be at the top of the agenda throughout 2024 and beyond. I meet with hundreds of customers and partners from across EMEA each year, and rarely does the topic of sustainability not come up within the first five minutes of any meeting.?

Intel has long prioritized a commitment to sustainability . We know there is lots to be done in order to ensure the semiconductor industry is driving our digital future forward sustainability, so we’re resolutely working across our global facilities to reduce our climate impact – including the emissions resulting from our own operations, our supply chain, and the marketing and use of our products.??

We aim to set the benchmark for sustainable manufacturing in Europe and across the globe. In 2024 I expect to see organizations industry-wide follow suit with their own equivalent initiatives to Intel’s Ireland Climate Action Plan, which will reduce greenhouse gas (GHG) emissions, energy use, water use and waste to landfill across the country.

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A new era for the Siliconomy in 2024?

Heading into 2024 we find ourselves on the cusp of another wave of innovation. As the devices all around us continue to evolve in order to deliver new capabilities and exceed previous expectations, a thriving Siliconomy will be the cornerstone of success.?

I believe technology development across EMEA and beyond is perfectly positioned to go from strength to strength, with a sustainable approach to bringing AI everywhere, the modern workforce and the environment being key indicators of progress throughout the coming year. I’m thrilled for what’s to come.

Here’s to 2024!