The Vice President of the European Union, Andrus Ansip, said on Wednesday that "Just as the steam engine and electricity did in the past, AI is transforming our world. Today, we are giving a boost to researchers so that they can develop the next generation of AI technologies and applications, and to companies, so that they can embrace and incorporate them."
France and Britain have also recently made public their intentions to make investments in artificial intelligence a priority. Emmanuel Macron, President of France, promised last month to increase the allocation of public money towards AI investment to 1.5 billion euros. Last year, private investments in AI across Europe totaled 2.4-3.2 billion euros, drastically lower than America's 18 billion euros and Asia's 10 billion euros. The bloc will have to continue to ramp up investment in the revolutionary technology or likely face a brain drain, where their top industry professionals are attracted elsewhere.
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