📰 EU Launches €200 Billion InvestAI Initiative for AI Leadership
EU invests €200 billion in AI to build infrastructure, foster innovation, and position Europe as a global Leader in AI.
At the AI Action Summit in Paris, European Commission President Ursula von der Leyen announced the launch of InvestAI, a major initiative to mobilize €200 billion in investments for AIin Europe. The goal is to position the EU as a global leader in AI by focusing on creating a robust infrastructure for the development of the most advanced AI models.
The €200 billion will come from both public and private sources, including €150 billion in funding from investors and industry, topped up by an additional €50 billion from the European Commission. The investment will fund AI gigafactories, which are large-scale facilities dedicated to training AI models that require substantial computational power.
Von der Leyen emphasized that Europe is determined to lead the AI race, despite claims that the U.S. and China are ahead. She highlighted the importance of a unique European approach to AI development, one that prioritizes openness, cooperation, and excellent talent, with a focus on mission-critical applications like healthcare, research, and industrial productivity.
The initiative will support the creation of AI gigafactories across the continent, each designed to handle the most complex AI models. These facilities will play a key role in fostering innovation and ensuring that European companies, not just the largest ones, have access to the computing power needed to drive AI development.
InvestAI also aims to replicate the success of CERN, the world's largest particle physics laboratory, but for AI. This collaboration between public and private sectors will make Europe a hub for trustworthy AI development, with a special focus on ensuring that AI is used for positive purposes such as boosting competitiveness, improving public health, and ensuring security.
The launch of InvestAI is part of a broader European strategy to promote AI innovation. Alongside this initiative, the European Commission is funding various programs and research efforts to develop the next generation of AI technologies and ensure that Europe remains at the forefront of this rapidly evolving field.
With this landmark investment, Europe is setting itself up to become a global leader in AI, unlocking significant opportunities for both businesses and citizens.
Check the full speech of European Commission President Ursula von der Leyen below:
Source: European Commission Press Release, Euronews, CNBC
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