As the AI Action Summit in Paris gets underway, organisers are set to unveil a new strategy to support European startups deploying the technology.
Dozens of major corporations, VC firms and startups have rallied behind the plans, which will see 20 key investors deploy €150bn invested in European AI over the next five years.
Led by VC firm General Catalyst, the “EU AI Champions Initiative” issued a call to action on Monday, calling for simplified European regulation, greater investment in infrastructure and a campaign to help the public better understand and trust the technology.
“By seizing the moment, working with greater intention and embracing deep collaboration, Europe can seize a generational opportunity by leading in applied AI, integrating it into our industrial base to boost productivity, resilience and economic sovereignty,” Jeannette zu Fürstenburg, managing director and head of Europe at General Catalyst, said in a statement.
Backers of the initiative include Germany’s leading investment bank Deutsche Bank, German defence startup Helsing, French AI darling Mistral and Swedish music-streaming giant Spotify.
“The AI race is far from being over, it has only just begun. We must urgently raise our ambition for AI and use Europe’s potential in technology and talent, capital and entrepreneurialism,” said Gundbert Scherf, Helsing cofounder & co-CEO.
The German startup announced on Monday it would partner with French AI company Mistral to build large language models (LLMs) for defence.
“We believe AI leadership is core to sovereignty and a strong Europe. We’ll work with Mistral to deliver that for Europe and its allies in defence.”
Thousands of tech execs, academics and world leaders have gathered in the French capital for Paris’s AI Action Summit, a follow-up to the world’s first AI safety summit, held in the UK just over a year ago.
Read the orginal article: https://sifted.eu/articles/france-paris-ai-summit-action-startups-investment/
