Artificial intelligence (AI) is transforming industries and society - and a global race has taken off for who will create the most cutting-edge technology. The outcome could reshape the global balance of powers. At the moment, the United States and China stand as the leading contenders. Europe, meanwhile, finds itself lagging behind. But the continent is eager to catch up, and it has a plan: Officials hope that a strong emphasis on transparency and fairness in AI development will set European AI apart and provide an edge in the years to come. However, the question remains: Can these European initiatives compete with the vast resources that Big Tech companies pour into AI research? And will the EU's ethics-first approach to AI become a competitive advantage in the global race for AI - or will it set Europe even further