This study estimates a total investment gap in AI and
blockchain technologies in the European Union of about around € 5 to 10 billion per year. This gap appears: (i)
to consist for the most part of equity investments – as compared to debt; (ii) to be dominated by AI
(~80%) – as compared to a gap in blockchain investments; and (iii) to be more prominent in the later
stages of financing. Although the pandemic’s long-term commercial impact on these technologies is expected to be positive, access to finance may become more challenging in the short run as a result of market conditions, potentially widening the investment gap. EU and Member State support schemes could plug part of the gap, but private markets will clearly need to contribute the balance. The study comprise three parts: 1) analisis the global AI and blockchain landscape based on Oliver Wyman’s experience and expertise in the sector, as well as on other existing research, market analyses and published reports 2) The researchers surveyed over 100 AI and blockchain small and medium-sized enterprises (SMEs) located in the 27 Member States and conducted in-depth interviews with 18 of those SMEs, as well as 19 financial market participants 3) set of recommendations targeting the key market failures and barriers identified in the previous steps, supported by a high-level cost–benefit analysis and a high-level action plan for implementing these recommendations.

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