European Commission President Ursula von der Leyen said at the Paris AI Summit on Tuesday that the European Union intends to invest around 200 billion euros in the development of artificial intelligence (AI).
Von der Leyen announced the InvestAI initiative, which aims to attract 200 billion euros of investment in the AI sector, of which 20 billion euros to build AI gigafactories.
She emphasised that AI will improve healthcare, spur research and innovation, and increase competitiveness.
“Together with our Member States and our partners, we will mobilise unprecedented capital through InvestAI for European AI gigafactories,” Ursula von der Leyen said, adding that this will enable scientists and companies to develop the advanced large-scale models needed to make Europe an AI continent.
A two-day summit on artificial intelligence has been taking place in Paris since February 10.
