The European Union says it will channel €200 billion (about $206 billion) into artificial intelligence investments in a bid to compete with the US and China. At the AI Action Summit in Paris on Tuesday, EU Commission President Ursula von der Leyen announced the bloc would spend €50 billion (about $51 billion) to top up €150 billion (about $154 billion) in funding already pledged by a collective of private investors called the European AI Champions Initiative.
“We want Europe to be one…
