Italy is taking a significant step towards bolstering its domestic AI development and positioning itself as a globally competitive center for artificial intelligence (AI). As part of its Strategic Program for Artificial Intelligence, the Italian government is set to launch a €150 million fund to support AI startups. The fund, backed by the development bank Cassa Depositi e Prestiti (CDP), aims to cultivate national capacity, promote research and development, and increase the independence of Italian industries in the AI sector.
Italy’s Ambition to Foster AI Ecosystem Development
Italy recognizes the importance of AI technology and its potential for economic growth and innovation. With the launch of the €150 million fund, the country aims to quickly shore up its domestic AI ecosystem and establish itself as a globally competitive center for AI.
€150 Million Fund Backed by Cassa Depositi e Prestiti
The Italian government, through its partnership with Cassa Depositi e Prestiti (CDP), will provide the financial backing for the €150 million fund. This collaboration highlights the commitment of both parties to promote AI innovation and support startups in the field.
Boosting Independence and Research Capacity
Alessio Butti, Italy’s cabinet undersecretary in charge of technological innovation, expressed the goal of increasing the independence of Italian industries and cultivating national skills and research in the AI sector. The investment fund will provide support to the most innovative startups, fostering study, research, and programming on AI within Italy.
AI Boom and Global Support for Developers
The AI boom is gaining momentum globally, with companies like Nvidia achieving remarkable milestones, such as becoming the first chipmaker to reach a $1 trillion valuation. Governments worldwide, including Italy, are recognizing the importance of AI and are keen on supporting domestic developers. The UK, for example, recently made £100 million available to fund a task force aimed at building and adopting safe AI technologies.
Italy’s Strategic Program for Artificial Intelligence
Italy’s Strategic Program for Artificial Intelligence, adopted in 2021, outlines a comprehensive plan for AI development between 2022 and 2024. The program involves collaboration between various ministries and is guided by a working group on the national strategy for AI. It includes measures such as promoting STEM subjects, attracting international researchers through increased doctorate programs, establishing data infrastructure for public administration, and providing support to startups solving critical problems in the public sector.
Conclusion
Italy’s launch of the €150 million fund for AI startups demonstrates its commitment to fostering the growth of the AI ecosystem. By investing in research, development, and innovative startups, Italy aims to become a globally competitive center for AI. This strategic move aligns with the country’s comprehensive plan outlined in the Strategic Program for Artificial Intelligence, which encompasses various initiatives aimed at driving AI innovation and creating a conducive environment for AI development in Italy.
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