Overview

• The European Commission has officially announced the AI Continent Action Plan, aiming to transform Europe into a global AI leader.
• A €20 billion fund will support the construction of advanced AI gigafactories equipped with over 100,000 processors, targeting breakthroughs in healthcare, robotics, and biotech.
• The plan includes a consultation to simplify the AI Act, addressing concerns about regulatory burdens and fostering a more innovation-friendly environment.
• Efforts will focus on enhancing Europe's technological sovereignty and closing the gap with AI leaders like the US and China.
• The initiative seeks to mobilize public and private investment, with the European Investment Bank playing a central role in funding large-scale AI projects.