The document discusses the future internet and its potential impact on Europe. It describes the future internet as having two layers - a services layer based on services-oriented architecture and semantic technologies, and a technical layer incorporating emerging technologies like the internet of things. The future internet is predicted to revolutionize businesses and supply chain management, drive productivity gains, and create new high-skilled jobs. The document recommends actions Europe can take to promote and maximize benefits from the future internet, such as establishing research clusters, agreeing on standards, and prioritizing the future internet in policies and funding programs.