EU Initiates Bold Venture to Bolster AI Entrepreneurs and Fuel Inventiveness in Local Regions
The European Commission has announced a significant new support package aimed at boosting the development of Artificial Intelligence (AI) startups and small businesses across the European Union (EU). Dubbed the AI Innovation package, the initiative includes the establishment of two European Digital Infrastructure Consortiums (EDICs) and a host of other measures designed to foster an environment where European AI innovators can thrive.
At the heart of the AI Innovation package is the GenAI4EU initiative, which focuses on developing novel AI applications in sectors such as robotics, health, biotech, manufacturing, mobility, climate, and virtual worlds. The goal is to help startups and small businesses create AI solutions that align with EU norms and regulations.
Another key component of the package is the creation of 'AI Factories', which aim to serve as a one-stop shop for Europe's AI startups to develop advanced AI models and industrial applications. Commissioner for Internal Markets, Thierry Breton, has stated that these factories will provide startups with the resources they need to create cutting-edge AI technologies.
Financial support for these initiatives will come from the Commission's Horizon Europe and Digital Europe programs. The AI Innovation package also offers an additional boost of public and private investment of around €4 billion until 2027.
In addition to financial support, the AI Innovation package also aims to speed up the development and deployment of Common European Data Spaces for the AI community. This will provide startups with access to a wealth of data that can be used to develop and test their AI models.
To ensure compliance with EU regulations, the supervision and enforcement of the EU AI Act will be supervised by a dedicated AI Office. Margrethe Vestager, executive vice president of the European Commission, has stated that SMEs and startups will be given privileged access to European supercomputers to help them develop trustworthy AI.
The AI Innovation package also includes plans for education, training, skilling, and reskilling programs to support the AI community. While specific details about these programs are not yet available, the emphasis on developing AI that aligns with EU values suggests a focus on education and training that supports ethical AI development.
The AI Innovation package comes after a period of intense criticism of the EU AI Act, with concerns that it could have an adverse effect on the broader European AI industry. Last year, tech policy group DigitalEurope warned that the EU AI Act could regulate AI startups out of existence and prevent European companies from competing with global counterparts, particularly in the US.
However, the Commission is committed to building a thriving AI ecosystem in Europe. By providing startups and small businesses with the resources they need to develop innovative and trustworthy AI, the AI Innovation package aims to help Europe compete on the global stage and ensure that its AI industry remains competitive and vibrant.
- The European Commission's AI Innovation package includes plans for infrastructure development, with the establishment of two European Digital Infrastructure Consortiums (EDICs), aimed at fostering an environment for AI startups.
- To ensure EU regulatory compliance, the AI Innovation package will also feature a dedicated AI Office, which will supervise and enforce the EU AI Act, providing SMEs and startups with privileged access to European supercomputers.
- In addition to financial support and infrastructure development, the AI Innovation package will also offer education, training, skilling, and reskilling programs, with a focus on ethical AI development that aligns with EU values.
