EU plans 50 billion euro investment to boost artificial intelligence efforts

Europe plans to invest an additional 50 billion euros to enhance its artificial intelligence efforts, according to European Commission President Ursula von der Leyen. This funding is part of a broader initiative to mobilize a total of 200 billion euros for AI. The new investment will supplement the existing European AI Champions Initiative, which has already secured 150 billion euros from various stakeholders. The focus will be on industrial and mission-critical technologies. Major companies involved in the initiative include Airbus, ASML, Siemens, Infineon, Philips, Mistral, and Volkswagen.