Ursula von der Leyen, European Commission President, announced a €200 billion investment in AI seeking to compete with the US and China.
The announcement comes after the AI application launched by firms in the US and China have popularized worldwide.
The EU has drafted the AI law to regulate its use and prevent unacceptable risks.
There is a discrepancy in AI regulation between the US and EU, with the former being more lenient.
The EU needs to strengthen AI research and make good use of the resources, set for investment in the same.
Conclusion: The EU's increasing AI investment is crucial for international competitiveness, but measures are needed to attract talent, manage projects, and ensure effective implementation of announced investment figures.