Ursula von der Leyen, chief of the European Union, Tuesday revealed that she channeled 200 billion euros in private and public investments into Europe’s budding artificial intelligence industry.
The European Commission president said, “We aim to assemble a total of 200 billion euros for AI investments in Europe,” and a Paris AI submits, saying the European Union would provide 50 billion euros, with the rest coming from “providers, investors, and industry”.
Von der Leyen asserted, “The AI race is far from over,” but already Europe faces a tough challenge as the United States and China charge in the AI field.
Tech executives, revealing that “global leadership is still up for grabs, and on the other hand, she told the gathering of leaders, “We want to accelerate innovation”.
A commission statement said, “To allow open, cooperative development of the most elaborate AI models,” the EU investment push would incorporate 20 billion euros to finance four AI gigafactories.
From actual programmers with a digital component, the initial EU funding will be drawn.
On Monday, Von der Leyen said the European funds would “top up” covenants declared by a group of more than 60 European companies, including Airbus, Volkswagen, and Mistral AI.
The firms said they targeted stimulating the emergence of new companies, with 150 billion euros “earmarked” by international dealers for AI-related possibilities in Europe over five years as part of the “EU AI Champions Initiative”
After US Vice President JD Vance, the EU chief took the place in Paris instantly and took aim at the bloc in caution that “excessive regulation” could kill the building AI sector.
Source: The Daily Star
