The EU is preparing to spend big in an effort to catch up in the AI race, setting 200 billion euros ($206.15 billion) to challenge the U.S. and China.
The EU has been falling behind the U.S. and China, thanks in no small part to far stricter regulation. Apple and Meta have both said they will not bring their most advanced AI capabilities to the bloc as a result of an uncertain regulatory future. What’s more, the bulk of the world’s leading AI companies are based in either the U.S. or China.
According to The Wall Street Journal, the EU is getting serious about changing the status quo, EU Commission President Ursula von der Leyen announcing the InvestAI plan. The plan includes $20 billion to help establishing AI gigafactories for training AI models.
“We want Europe to be one of the leading AI continents, and this means embracing a life where AI is everywhere,” von der Leyen said at the AI Action Summit in Paris.
“Too often I hear that the EU is late to the race,” von der Leyen added, insisting the AI race is “far from being over.”
The day before the summit, French President Emmanuel Macron emphasized the need for the EU to simplify its AI regulation in an effort to be more competitive.
“Tomorrow, President von der Leyen will announce the European AI strategy and it will be a very important occasion. But this strategy will be a unique opportunity for Europe to accelerate, to simplify our regulations, to deepen the single market and to invest as well in computing capacities,” he said.
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