European Commission Unveils €20 Billion Strategy to Lead in Artificial Intelligence
The European Commission presents a comprehensive plan to invest at least €20 billion in artificial intelligence by 2020, combining increased funding with ethical guidelines.
The European Commission presents a comprehensive strategy to position Europe at the forefront of artificial intelligence development. The initiative focuses on a three-pronged approach that increases public and private investment, prepares for socio-economic changes, and establishes an appropriate ethical and legal framework for AI technologies.
To achieve these ambitious goals, the EU aims to boost combined investments in AI research and innovation by at least €20 billion by the end of 2020. The Commission contributes €1.5 billion through the Horizon 2020 programme, which expects to trigger an additional €2.5 billion from public-private partnerships in areas like big data and robotics. Furthermore, the European Fund for Strategic Investments mobilizes over €500 million to support companies and start-ups integrating AI.
Europe already possesses world-class researchers, laboratories, and leading industries in transport, healthcare, and manufacturing that are prime candidates for AI adoption. To maintain this competitive edge amid fierce international rivalry, the Commission supports the creation of an AI-on-demand platform to provide all users with easy access to relevant AI resources across the continent.