Governments in major countries all over the world are investing enormous government budgets to realize an edge within the race for artificial intelligence (AI) hegemony. The AI competition, which began with the appearance of 'ChatGPT', is expanding from firms to countries.
Reuters reported on the eighth (local time) that the enterprise capital arm of Italian state-run lender CDP will invest 1 billion euros (about 1.5 trillion won) in AI and cybersecurity over the subsequent five years.
CDP Enterprise Capital announced in a press release that it plans to speculate 580 million euros in startups and supply a further 300 million euros to firms able to expand overseas. Moreover, a further €120 million will likely be invested in technology transfer, a university research project.
The fund plans to speculate a complete of 8 billion euros (about 11.8 trillion won) across all sectors between 2024 and 2028.
“Italian innovation has strong roots and various scientific and technological priorities, and now could be the time to revive its vision and competitiveness and return to its leading role within the international economy,” said Agostino Sornagenzi, CEO of CDP Enterprise Capital.
In March, because the G7 presidency, the Italian government announced its intention to determine an investment fund to advertise projects in the sector of AI, supported by the CDP, to concentrate on the impact of AI on jobs and inequality.
Also, the day before, Canada announced plans to speculate 2.4 billion Canadian dollars (about 2.4 trillion won) to foster the AI industry.
Canadian Prime Minister Justin Trudeau announced plans to allocate a budget of two billion Canadian dollars to secure computing power and technical infrastructure for AI research and support related startups, and to create latest AI safety measures. The remaining budget will likely be used to expand the usage of AI in fields reminiscent of agriculture and health.
Prime Minister Trudeau emphasized, “The aim of this AI investment is to offer well-paying jobs for young people while securing national economic productivity and growth.”
The Canadian government is scheduled to announce its budget on the sixteenth.
Reporter Park Chan cpark@aitimes.com