EU wants 28 nation bloc to invest $24B in AI by 2020

Wednesday April 25, 2018
Written by The Associated Press
Apr. 25, 2018 - The European Union’s executive branch wants the bloc’s public and private sectors to invest at least $24 billion in artificial intelligence through 2020 in an attempt to remain globally competitive.

EU Digital Market Commissioner Andrus Ansip said Wednesday the Commission itself will increase its investment in research and development to $1.8 billion and hopes it will trigger $3 billion more in public and private funding.

Ansip said the EU needed to catch up, citing a study which said corporate investment in AI stood at up to $4 billion in the EU in 2016, compared to $12 billion in Asia and $23 billion in the US.

AI is already finding its application in robotics, health care and manufacturing.

Add comment


Security code
Refresh

Subscription Centre

 
New Subscription
 
Already a Subscriber
 
Customer Service
 
View Digital Magazine Renew

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.