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Today the European Commission is presenting a series of measures to put artificial intelligence (AI) at the service of Europeans and boost Europe’s competitiveness in this field. To that end, she is proposing a three-pronged approach to increase public and private investment in AI, prepare for socio-economic changes, and ensure an appropriate ethical and legal framework.
The EU (public and private sectors) should increase investments in AI research and innovation by at least 20 billion euro between now and the end of 2020. To support these efforts, the Commission is increasing its investment to 1.5 billion euro for the period 2018-2020 under the Horizon 2020 research and innovation programme. This investment is expected to trigger an additional 2.5 billion euro of funding from existing public-private partnerships, for example on big data and robotics.
Additionally, the European Fund for Strategic Investments will be mobilised to provide companies and start-ups with additional support to invest in AI. With the European Fund for Strategic Investments, the aim is to mobilise more than 500 million euro in total investments by 2020 across a range of key sectors.
25 August 2021
