Subscribe
The European Union has decided to enter the game with greater determination in the global race for artificial intelligence (AI), a strategic sector that promises to shape the economic and social future of the world.
On Tuesday 11 February, during an international summit dedicated to AI at the Grand Palais in Paris, the President of the European Commission, Ursula von der Leyen, announced the creation of a community fund of €20 billion, with the ambition of raising investments for a total of €200 billion. An ambitious goal that aims to position Europe among the world leaders in this field, competing directly with the United States and China, which currently dominate the global technological landscape.
In her speech in Paris, von der Leyen highlighted how, although Europe is often perceived as being behind the United States and China in the field of artificial intelligence, the reality is very different. “Too often I hear that Europe is behind, but I disagree,” said the Commission President, adding that the race for artificial intelligence is far from over. “We are only at the beginning. The frontier is constantly moving,” she declared with conviction, indicating that, despite the progress made by other major powers, Europe still has the opportunity to enter the game and make its voice heard. The European Union is therefore preparing to invest significant resources to overcome the technological gap, with the intention of promoting innovation and research. The new €20 billion fund, which will have a strong public but also private component, will focus on the creation of four giga-establishments for AI research and development. These mega-structures, which will be the beating heart of the project, will be the largest public-private partnership ever created worldwide in the field of artificial intelligence. The aim is clear: to make large-scale computing power, crucial for developing innovative and competitive applications, accessible to all European companies, even the smallest ones.
In outlining the European vision for artificial intelligence, von der Leyen stressed that Europe intends to address the future of AI with a cooperative approach, aimed at ensuring that artificial intelligence is not only a tool for technological innovation, but also an ally for social and economic well-being. Europe wants to avoid the risk of a technological monopoly, promoting, instead, the creation of complex applications that can benefit from AI in industrial and scientific fields. To this end, the Commission wanted to underline its intention to promote so-called “open sources” in the field of artificial intelligence, so that the technologies developed are accessible and usable by a large number of actors.
Von der Leyen’s speech also highlighted the need for AI that is at the service of humans and that promotes ethical and sustainable values. This orientation is part of the European Union’s broader plan to adopt regulations that balance innovation and security, reducing risks related to privacy and discrimination. The Commission has already committed to creating a regulatory framework that can regulate the use of artificial intelligence, to prevent its applications from threatening citizens’ fundamental rights.
The European Commission’s plan foresees that the 20 billion euro fund can catalyse further private investments. According to Brussels estimates, total investments in artificial intelligence could reach the figure of 200 billion euros, a sum that will be crucial to face growing international competition. The European Investment Bank (EIB) will play a crucial role in financing this ambitious program, with support for the creation of the necessary infrastructure and for the accompaniment of start-ups and small and medium-sized enterprises (SMEs) that want to access the resources earmarked for the development of AI.
The EIB, represented by its President Nadia Calviño, said that, together with the Commission, it is committed to stepping up support for artificial intelligence, as this technology is set to become a key driver of innovation, growth and productivity in Europe. The Bank’s support is particularly relevant as it will help strengthen Europe’s global competitiveness and support the creation of cutting-edge research infrastructures in the technology sector.
Alessandro Fiorentino