EU Unveils €200 Billion AI Spending Plan to Bridge Gap with US and China

The European Union (EU) has announced a €200 billion investment plan, InvestAI, aimed at bolstering its artificial intelligence (AI) capabilities and catching up with global leaders like the United States and China. The initiative, launched by Commission President Ursula von der Leyen at the AI Action Summit in Paris, seeks to mobilize capital for investment in AI, including a new European fund of €20 billion for AI gigafactories.

The EU's ambitious plan comes at a time when AI is rapidly transforming various industries, from healthcare and education to transportation and manufacturing. The Commission President emphasized the potential of AI to improve healthcare, spur research, and boost competitiveness, stating, "AI will improve our healthcare, spur our research and innovation and boost our competitiveness. We want AI to be a force for good and for growth."

The InvestAI initiative aims to create a synergistic ecosystem for advancing microelectronics and computing capacity in Europe. It includes several key components:

1. AI gigafactories: The EU plans to finance four future AI gigafactories across the continent, specializing in training the most complex, very large AI models. These facilities will be crucial for breakthroughs in specific domains such as medicine or science, requiring extensive computing infrastructure.
2. Public-private partnership: The EU will establish a unique public-private partnership, akin to a CERN for AI, enabling all scientists and companies, not just the biggest, to develop the most advanced very large models needed to make Europe an AI continent.
3. Funding and support: The EU will provide funding and support for AI development through various programs, such as Horizon Europe and the Digital Europe Programme. By 2023, the Recovery and Resilience Facility had already invested €4.4 billion into AI, demonstrating the EU's commitment to supporting AI development and innovation.



To measure the success and impact of its AI spending plan, the EU will use several key performance indicators (KPIs), including:

1. Number of AI gigafactories established: The EU plans to finance four future AI gigafactories across the EU. The number of gigafactories established will be a key indicator of the success of the InvestAI fund.
2. Investment in AI infrastructure: The total amount of investment in AI infrastructure, including gigafactories, will be tracked and reported by the European Investment Bank (EIB).
3. Number of AI models developed: The number of advanced, very large AI models developed in the EU will be a key indicator of the success of the AI gigafactories.
4. Impact on healthcare, research, and innovation: The EU aims to improve healthcare, spur research, and boost competitiveness through AI. The impact of AI on these sectors will be measured using relevant KPIs, such as the number of AI-driven healthcare solutions developed and deployed, the number of AI-related patents filed by EU-based companies, and the increase in research and development (R&D) spending in AI-related fields.



The EU's AI spending plan is a significant step towards making Europe an AI continent. By investing in AI infrastructure, fostering collaboration, and supporting innovation, the EU aims to bridge the gap with global leaders like the US and China. As the AI landscape continues to evolve, the EU's commitment to AI development will be crucial in shaping the future of the technology and its impact on society.