Today leading scientists in Europe have designated a plan for a multinational European Artificial Intelligence Institute.
ELLIS will be a top employer in machine intelligence research, on par with Berkeley, Stanford, CMU, and MIT. It will also be a world class venue to get trained in the field: in conjunction with universities, it will develop a highly attractive European PhD program, and it will strive to retain the best graduates within ELLIS to groom them into the next generation of senior scientists.
Europe will be able to play a major role in the scientific and societal revolution that is underway.
Although some people may argue that it is already too late, I think it is worthwhile to put the effort and money into it.
Also Ian Sample from The Guardian wrote an interesting article about the development.