The European Commission (EC) has announced it will be investing an extra €1.5 billion in artificial intelligence (AI) for the period 2018-20 under the Horizon 2020 research and innovation program.
The funding initiative aims to spur an additional €2.5 billion from existing public-private partnerships.
The funding will support the development of AI in key sectors and strengthen AI research centers across Europe. As part of the effort, the EC also urged member states to modernize their education and training systems and support labor market transitions.
To ensure an adequate supply of AI-capable workers, the EC said it would support business-education partnerships and establish dedicated training programs.
The EC says it will release ethical guidelines on AI development by the end of the year.
EC vice president Andrus Ansip said, "We need to invest at least €20 billion by the end of 2020. The European Commission is playing its part: today, we are giving a boost to researchers so they can develop the next generation of AI technologies and applications, and to companies, so they can embrace and incorporate them.”
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