EU announces $206 billion investment in artificial intelligence to compete globally

The European Union plans to invest €200 billion (about $206 billion) in artificial intelligence to compete with the US and China. This includes an additional €50 billion (about $51 billion) announced at the AI Action Summit in Paris. EU Commission President Ursula von der Leyen emphasized the need for Europe to lead in AI development. The funding aims to support the construction of gigafactories for training AI models and enhance the EU's AI infrastructure. The EU has previously introduced regulations on AI, which some critics view as overly restrictive. The new initiative seeks to promote an open and ethical approach to AI while boosting competitiveness and innovation in the sector.