European Commission Proposes AI Initiatives to Boost Startups and SMEs.
The European Commission is stepping up its game in Artificial Intelligence (AI) by proposing the creation of an AI factory, an AI Office, and other related initiatives. This move is part of a package aimed at supporting European startups and small and medium-sized enterprises (SMEs) in developing AI that aligns with the values and regulations of the European Union (EU).
This initiative follows the agreement in December 2023 on the EU AI Act. This act is significant as it’s the first global comprehensive law focused on powerful AI models, like those backed by Microsoft (ChatGPT) and Google (Bard). The law is designed to encourage the development, deploying, and adoption of trustworthy AI within the EU.
In September 2023, Ursula von der Leyen, President of the European Commission, announced during her ‘State of the Union’ address the plan to make Europe’s supercomputers accessible to innovative European AI startups. This would help them train their AI models, ensuring they are reliable and trustworthy.
In November 2023, the Commission launched the Large AI Grand Challenge, a competition that provides AI startups with financial support and access to supercomputers. The AI Factories, also called one-stop shops, will support AI startups and researchers in developing algorithms, testing, and validating large-scale AI models, and providing them access to dedicated AI supercomputers.
The European Commission plans to establish an AI Office to focus on developing and coordinating AI policy at the European level. This office will also oversee the implementation and enforcement of the AI Act.
Additionally, the EU AI Start-Up and Innovation Communication initiative aims to generate a total investment of approximately €4 billion until 2027, combining public and private funds to support AI innovation.
The Commission, along with several member states, has established two EDICs. The first is The Alliance for Language Technologies (ALT), which aims to address the lack of European language data for AI training and support the development of large language models, preserving linguistic diversity.
The second is ‘CitiVERSE’, an initiative that uses advanced AI tools to develop Local Digital Twins for Smart Communities. This will help cities simulate and optimize various processes like traffic and waste management.
