The latest episode of Real Economy on Euronews, “Innovation: Europe's road to growth”, looks at what Europe is doing to help foster the continent's innovative industries, particularly in the fields of artificial intelligence and robotics. Currently, EU companies spend less on innovation than Asia and the US. In 2016, Europe's private investment in AI stood at EUR 2.4-3.2 billion, compared to EUR 6.5-9.7 billion in Asia and EUR 12.1-18.6 billion in North America. A declaration of cooperation on artificial intelligence signed by European countries in April 2018, aims to change that trend. The declaration stated that the EU would increase investment in AI research and innovation in both the public and private sectors by the end of 2020. That should see EUR 1.5 billion for the period 2018-2020 under the Horizon research and innovation programme, plus EUR 20 billion in combined public and private investment. However, to establish a solid base for AI in the future, more investment will be needed after 2020. Consequently, EUR 20 billion per year of combined public and private investment will be set aside and EUR 1 billion annually through Horizon Europe and the Digital Europe Programme. Around two-thirds of Europe's economic growth over the last few decades has been driven by innovation.