EU chief Ursula von der Leyen Tuesday announced a push to channel 200 billion euros in public and private investments into Europe’s nascent artificial intelligence industry.
“We aim to mobilise a total of 200 billion euros for AI investments in Europe,” the European Commission president told a Paris AI summit, saying the
EU would contribute 50 billion euros with the rest pledged by “providers, investors and industry.”
Europe faces an uphill challenge as the United States and China charge ahead in the AI field, but von der Leyen insisted “the AI race is far from over”.
“We want to accelerate innovation,” she told the gathering of leaders and tech executives, declaring that “global leadership is still up for grabs”.
The EU investment push would include 20 billion euros to finance four AI gigafactories, “to allow open, collaborative development of the most complex AI models,” a commission statement said.
The initial EU funding will be drawn from existing programmes with a digital component.
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