EU proposes ambitious investment package in AI

The European Union (EU) redoubles its efforts to compete in the global artificial intelligence (AI) sector with a proposal based on alternative regulation and an ambitious investment package.

The United States and China dominate the AI ​​race, far from the rest of the competitors, as explained by the founder and executive director of Adsviu, Patricia Matey, who also highlights the growing development of this technology on European soil through companies such as Aleph Alpha or Adsviu itself, which has developed a contextual advertising model.

The European proposal, however, opts for a differentiating legal regulation and an ambitious investment package for the coming years; the two pillars that will mark its evolution in the field of artificial intelligence, as Adsviu states in a press release.

The aim is to make the EU a global center of excellence for AI and ensure that it is human-centred and reliable. To achieve this, the European Commission has been laying the foundations for a legal framework since 2018 to promote the development of this technology, materialized in the draft law that the European Parliament approved last June.

Although there are still several procedures for its entry into force, it is one of the first and most ambitious legislative projects on AI in the world because it seeks to guarantee the security, transparency and traceability of artificial intelligence systems and differentiates operators. and suppliers based on risk and their obligations.

“This is a Law that seeks to harmonize innovation with full respect for the fundamental rights of individuals, as well as the promotion of European values,” says Matey, who recalls that “the drive for this community regulation is being one of the priorities of the Spanish presidency of the European Union”.

Investment of more than 1,000 million euros annually

On the economic level, the European Commission decided to make a move in 2021 with the launch of two plans, Horizon Europe and Digital Europe, with which 1,000 million euros will be invested annually in the sector. These programs aim to additionally mobilize investments from Member States and private organizations to reach 20 billion annually.

According to Statista, global investment in Artificial Intelligence exceeded 92 billion euros in 2022. The IDC company, for its part, estimates that the contribution in Europe to AI could exceed the forecasts of the European Commission and exceed 33 billion.

“Europe is taking the initiative to compete against the great powers in artificial intelligence, the US and China, and thus lead an alternative option that allows the development of new technologies without losing sight of fundamental issues such as security and transparency,” he concludes. Matey.

Source: dpa

(Referential image source: Unsplash, in collaboration with Getty Images)

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