The post EU to invest 200 billion euros in AI, but it might not be enough appeared first on Android Headlines.

The EU Commission presented a new AI initiative in Paris. A total of 200 billion euros is to be mobilized, including for AI gigafactories.

The funds will be used for the development of four 'gigafactories' with 100,000 state-of-the-art chips, among other projects.

European Commission President Ursula von der Leyen said at the AI Action Summit in Paris that the bloc wants to supercharge its ability to compete with the U.S. and China in AI.

European Commission President Ursula von der Leyen announced the plan, called InvestAI, at the AI Action Summit on Tuesday. She pushed the position that Europe isn't late to the competition against China and the US.

During the recent AI Action Summit in Paris, the EU president Ursula Von der Leyen pledged that the bloc would accumulate $206 billion (200 billion Euros) for investments into artificial intelligence in the region.