EU Commission wants bloc’s states to invest $24bn in AI by end 2020

The EU’s executive branch wants the bloc’s public and private sectors to invest at least $24 billion in artificial intelligence through 2020, AP said. EU Digital Market Commissioner Andrus Ansip said on Wednesday that the Commission itself will increase its investment in research and development to $1.8 billion, and hopes it will trigger $3 billion more in public and private funding. According to a study, corporate investment in AI stood at up to $4 billion in the EU in 2016, compared to $12 billion in Asia, and $23 billion in the US.