InvestAI: EU invests 200 billion in Artificial Intelligence

European Commission President Ursula von der Leyen has launched two major tools to boost artificial intelligence in the old continent, making it competitive with the USA and China. This includes InvestAI, an initiative aimed at mobilizing 200 billion euros for AI investments, which includes a new 20 billion euro European fund for AI gigafactories.

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The head of the European Executive presented InvestAI and the fund for AI gigafactories during the AI Action Summit in Paris. On this occasion, she explained that "together with our Member States and partners, we will mobilize unprecedented capital through 'InvestAI for European AI gigafactories'. This unique public-private partnership, akin to a CERN for AI, will enable our scientists and businesses, not just the largest ones, to develop the most advanced large-scale models needed to make Europe an AI continent."

Looking ahead, it was announced that the Commission will establish a European AI Research Council where Europe can pool resources and explore how to leverage the untapped potential of data to support artificial intelligence and other technologies. Additionally, by the end of the year, Brussels will launch an initiative "Apply AI" to promote industrial adoption of AI in key sectors.