Paris: European Commission President Ursula von der Leyen on Tuesday announced £200 billion (over $206 billion) in investments, as she emphasized Europe's ambition to become a leading force in artificial intelligence (AI). Speaking at the AI Action Summit in Paris, she said with the pledged £150 billion from investors alongside their own investment of £50 billion, the bloc aims to mobilize £200 billion (over $206 billion) for its AI initiative.
According to Anadolu Agency, von der Leyen stated that this would be the largest public-private partnership in the world for the development of trustworthy AI. She highlighted the rapid advancements they achieved in AI, noting the release of three new powerful models within the past year. She remarked that the AI race is far from being over, addressing claims of the US and China being ahead in the technology, and stressed that Europe needs to adopt a unique approach instead of repeating what others did.
She further elaborated on Europe's progress by mentioning the establishment of 12 AI factories within a few months, with an investment of £10 billion. Additionally, the EU plans to make its supercomputers available to support the best startups and scientists in developing and training AI models. The EU president reiterated the aim to introduce next-level AI "gigafactories" with large data and computing infrastructure where different industries will be able to collaborate.
Von der Leyen emphasized the importance of competition and collaboration in AI, stating that while AI needs competition, it also requires collaboration. She also addressed the AI Act, which is designed to provide a unified set of safety rules across the European Union, replacing 27 different national regulations. She acknowledged the necessity of simplifying processes and reducing bureaucratic hurdles to facilitate AI development.
In her concluding remarks, von der Leyen expressed the EU's vision for AI, emphasizing the desire for AI to be a force for good, with collaboration and benefits for all involved. She declared this as the European path forward in the field of artificial intelligence.