Recently, the European Commission announced an investment of $1.1 billion to accelerate the application of artificial intelligence (AI) in Europe, aiming to further develop industry and scientific research. This initiative, named the "Applied AI Strategy," aims to enhance the EU's competitiveness in the AI field, promote talent development, speed up product launch times, and integrate leading AI companies across Europe. The key areas of focus include industries such as healthcare, pharmaceuticals, energy, transportation, and manufacturing.

To implement this plan, the European Commission established the "Applied AI Alliance," a platform that brings together public sector, academia, and civil society AI innovators. Additionally, the Commission set up an "AI Act Help Desk" to assist with the implementation of the AI Act, which officially came into effect in August 2024.

This $1.1 billion funding will mainly come from EU research programs, such as the "Horizon Europe" program and the "Digital Europe" trade association. The European Commission hopes this initiative will break the stereotype that the EU lags behind in AI technology. Notably, the UK is also actively promoting the development of its AI industry. NVIDIA has announced a $3.5 billion investment to support AI startups in the UK, indicating the growing global attention on AI technology.

However, Torsten Volk, an analyst at Omdia, pointed out that although this plan is a good start, it needs the joint efforts of all countries to truly make an impact. "Although the amount of funding is not substantial, it can help startups alleviate financial pressure during project initiation," he said. He added that successful generative AI applications are still limited, mainly due to insufficient investment in talent, data centers, energy, and infrastructure.

Therefore, Volk believes that governments around the world need to invest more in this area to achieve significant progress. Although the EU's plan is an important attempt, it still requires more subsequent actions and support.

Key Points:

🔹 The European Commission will invest $1.1 billion to promote the application of AI technology in fields such as healthcare and energy.

🔹 Establish the "Applied AI Alliance" and the "AI Act Help Desk" to promote AI innovation and compliance.

🔹 Analysts believe that although the funds are limited, they can help startups solve financial challenges and call for more investment.