European Commission President Ursula von der Leyen has pledged billions of euros to support the artificial intelligence (AI) sector in Europe.
At a technology summit in Paris, von der Leyen said that AI will improve healthcare, drive research and innovation, and increase competitiveness.
She added that the “InvestAI” initiative will be increased by 50 billion euros.
A new European fund totaling 20 billion euros will be used for AIgigafactories. These factories are intended to train AI models and provide the necessary infrastructure.
At the summit in Paris, more than 60 European companies joined an initiative to advance the development and application of AI in European industry.
More than 20 major international investors have allocated 150 billion euros for AI-related projects in Europe over the next five years, it was announced during the summit.
The two-day summit brought together around 1.500 participants from 100 countries.
