EU Allocates 500 Million Euros to Boost Generative AI Development

AIbase

Published inAI News · 4 min read · Jul 16, 2024

Recently, the European Commission announced the launch of several funding programs for generative artificial intelligence. These programs will be implemented under the "Horizon Europe" work projects next year, with a total budget of up to 500 million euros. The goal of this plan is to help the European Union keep pace with the global pace in the field of artificial intelligence, especially in using technologies like ChatGPT to solve industrial issues in the real world.

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Image Source Note: The image was generated by AI, provided by image authorization service Midjourney

The initiative named "GenAI4EU" is planning to fund multiple cooperative projects, encouraging teams of enterprises and research institutions to jointly develop generative artificial intelligence solutions that can be applied in real-world scenarios. The Commission hopes to stimulate more innovation and promote the industrial application of artificial intelligence technology in this way.

Under this plan, enterprises will have the opportunity to collaborate with research institutions to solve specific problems they encounter in production and operation. These collaborations are expected to accelerate the practical application of new technologies, making artificial intelligence better serve various industries.

Generative artificial intelligence has great potential, ranging from text generation to image creation, and even being used in drug research, education, and other fields. This initiative by the European Union demonstrates a focus on and willingness to invest in future technology, hoping to drive social and economic development through innovative cooperation.

Key Points:

1. 💰 **500 million euros investment**: The European Commission is launching new funding programs to promote the application and development of generative artificial intelligence.

2. 🤝 **Collaboration between enterprises and research institutions**: The projects funded under this plan will encourage enterprises and research institutions to collaborate, addressing real industrial issues.

3. 🌍 **Potential for technological application**: Generative artificial intelligence helps innovation in multiple fields, including education, healthcare, and production. The following is the Chinese report on this article:

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