Europe will have a big role to play in the next stage of the artificial intelligence economy, OpenAI Chief Economist Ronnie Chatterji says at the ECB Forum on central banking in Sintra. Europe has lagged the U.S. in foundational AI research, but the next stage of innovation lies in diffusion across the economy, Chatterji says. Here, Europe could have a competitive advantage, with its deep network of industrial firms, research institutions and sector expertise able to capture significant value further down the AI value chain. Chatterji notes companies such as BBVA, Deutsche Telekom, and Orange as examples of companies that are adopting AI aggressively. Sectors such as finance, consulting, insurance, manufacturing and robotics are key areas where AI adoption could boost growth, he says. (don.forbes@wsj.com)