Joining forces
European initiative aims to advance AI
More than 60 European companies have joined forces to form the "EU AI Champions Initiative" to promote the development and application of artificial intelligence in Europe. The aim of the initiative is to develop Europe's full potential in the field of AI in close cooperation between corporations and the tech industry, according to the launch.
The participants include recognized European start-ups from the AI sector such as Helsing, Mistral AI and Dataiku as well as large companies from various industries such as Airbus, Dassault, Deutsche Bank, Lufthansa, Siemens and Volkswagen.
AI should give Europe's key sectors a boost
The aim is to integrate applied AI into Europe's industrial base in order to increase productivity, resilience and economic sovereignty, particularly in key sectors such as manufacturing, energy and defense.
More than 20 major international investors have earmarked 150 billion euros for AI-related projects in Europe over the next five years, underlining the significant potential of AI in Europe.
"Europe has all the essential ingredients for a resilient and competitive AI infrastructure: talent, capital and a strong industrial backbone with its own sales and data," said Jeannette zu Fürstenberg, Head of Europe at General Catalyst, which has been entrusted with the groundwork for the EU AI Champions Initiative.
"With the commitment of over 60 leading European companies, we need to leverage these resources to unleash a functioning flywheel between technology, capital and policy."
Fewer regulations
In order to boost the use of artificial intelligence in Europe, the initiative also wants to work towards a drastically simplified legal framework for AI at the EU Commission. Initial talks on this should already be held between entrepreneurs and top politicians during the two-day Paris AI summit.
Representatives of the tech industry and participating companies also want to discuss accelerating the introduction of AI and creating AI infrastructures to improve value creation across the continent.
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