Italy unveils 1-bln-euro AI investment fund

Italy unveils 1-bln-euro AI investment fund
1 min read

Italy's Prime Minister Giorgia Meloni said on Tuesday the government will create an investment fund worth 1 billion euros (1.1 billion U.S. dollars) to promote the development of artificial intelligence (AI).

Speaking via video link at a meeting on "Artificial Intelligence for Italy" in Rome, Meloni said the fund will come from the venture capital unit of Cassa Depositi e Prestiti, the state lender.

It will be activated in conjunction with a yet-to-be-finalized Italian law on AI aimed at regulating the new technology, she said.

"The government is preparing a new law that will establish principles and set rules complementary to European Union regulations... and identify the most effective measures to stimulate our productive capabilities," Meloni said.

She said the government has not yet decided what entity will oversee the regulation of AI-based technologies.

peoplesdaily

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Comments (1)
  1. Tauqeer

    Italy's unveiling of a 1-billion-euro AI investment fund marks a significant step forward in the country's technological advancement and innovation landscape. This ambitious initiative demonstrates Italy's commitment to fostering artificial intelligence development, which is crucial for driving economic growth and staying competitive in the global market. The fund is expected to support AI research, startups, and enterprises, paving the way for groundbreaking advancements across various sectors. By investing in AI, Italy is not only creating opportunities for technological innovation but also positioning itself as a key player in the future of artificial intelligence.

    1 day ago ·
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