Source: Euronews

Euronews reports that the European Union has announced plans to mobilize €200 billion for AI research and development, aiming to position Europe as a global leader in ethical and innovative AI technologies. The investment will focus on areas like healthcare, finance, manufacturing, and green energy, while ensuring compliance with EU regulations on data protection and AI ethics.

The initiative includes public and private sector collaboration, with a portion of the funds allocated to startups and SMEs developing cutting-edge AI applications. Legal experts emphasize the importance of maintaining strict regulatory oversight to ensure the AI systems developed align with European values and ethical standards.

The article also highlights concerns about data privacy, algorithmic bias, and AI accountability, urging EU lawmakers to develop comprehensive frameworks to balance innovation with public safety and individual rights. The investment is seen as a major step in Europe’s bid to compete with the US and China in the global AI race.