European Commission Pledges 1.5 Billion Euros in AI Research Through 2020
The European Commission will invest 1.5 billion euros ($1.8 billion) in artificial intelligence research across the region through 2020, the commission announced Wednesday, drawing guarded praise from the Computer & Communications Industry Association. “We welcome the commission’s constructive approach to…
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boost the uptake of AI in Europe. While we support this positive approach, we caution that the current copyright proposal risks hindering Europe’s leadership ambition,” said CCIA Senior Policy Manager Maud Sacquet. “Since this is a new technology, a cautious approach to regulation will allow AI to have the space to grow.” American Enterprise Institute scholar Bret Swanson cited a report from McKinsey Global Institute projecting AI could “generate incremental value of between $3.5 and $5.8 trillion annually across nine business functions in 19 industries.”