France will announce private sector investment in artificial intelligence of around 109 billion euros during an artificial intelligence summit in Paris starting on Monday, President Emmanuel Macron said on Sunday. He said the plans include Canadian investment firm Brookfield with an investment of 20 billion euros and financing from the United Arab Emirates that could reach 50 billion euros in the coming years, A2 CNN reports.
according to which the plans include the Canadian investment firm Brookfield with an investment of 20 billion euros and financing from the United Arab Emirates that could reach 50 billion euros in the coming years.
The Elysée Palace said the investment from the Emirates would include financing a one-gigawatt data center.
In an exclusive interview with CNN's Richard Quest at the Elysee Palace on Thursday, Macron said Europe has lagged behind in AI and his fear was losing control over the future direction and development of the technology, writes A2 CNN.
"We are not in the race today. We are lagging behind. We need an AI agenda because we need to bridge the gap with the United States and China in AI," the French president said in an exclusive interview at the Elysee Palace on Thursday.
The French leader added that he fears that Europe will become merely a consumer of AI, losing control over the future direction and development of the technology.
The newspaper "La Tribune de Dimanche" reported that most of Brookfield's investment will also go to the data center.
Artificial intelligence requires vast amounts of energy to power large data centers, and Europe is struggling to meet future demands, reports A2 CNN.
Last month, US President Donald Trump announced that companies OpenAI, SoftBank Group and Oracle will invest $500 billion in artificial intelligence infrastructure over the next four years to help the US stay ahead of China and other rivals in the global artificial intelligence race.
A major artificial intelligence action summit on Monday and Tuesday in Paris will bring together numerous heads of state or government, international organizations, technology companies and scientists in an effort to reach a global consensus on the ethical development of artificial intelligence for the common good. (A2 Televizion)
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