According to the plan unveiled in January by the Centre for Future Generations research institute, a €35 billion initial investment would create an international research centre for European artificial intelligence development. In line with former ECB President Mario Draghi's comprehensive technology report, the proposal suggests establishing an institution covering the entire development spectrum from basic research to practical applications.
The institution would conduct research across four main areas: fundamental research, hardware development, practical solutions to societal challenges, and the development of cutting-edge technologies. According to Goldman Sachs analysis, applying artificial intelligence systems can significantly increase company efficiency: they can achieve an average productivity increase of 25% by implementing the technology. However, European businesses are seriously lagging behind, with 40-70% fewer using these solutions than their American competitors. To catch up, the planned research centre would be led by a board of member state representatives responsible for strategic decisions, whilst independent expert groups would manage daily operations, ensuring that professional considerations prevail.
From the planned €35 billion budget for the first three years of the proposed research centre, approximately €25 billion would be allocated to data centre development. Funding would come from the European Union, member state governments, and strategic private investors. The key to the project's success would be the involvement of non-EU partner countries, particularly the United Kingdom, Switzerland, and Canada, which have significant research experience in the field of artificial intelligence.
Sources:
1.
Alexa Kodde
2.
CFG
3.
Pascale Davies
