EC launches innovation package to support Artificial Intelligence startups and SMEs

The European Commission has launched a package of measures to support European startups and SMEs in the development of trustworthy, safe and ethical Artificial Intelligence (AI) that respects EU values and rules, in accordance with the EU AI Act.

The package includes a broad range of measures to support AI startups and innovation, including financial support through the Horizon Europe and Digital Europe programmes dedicated to generative AI (this package will generate an additional overall public and private investment of around €4 billion until 2027). Also included is the acceleration of the development and deployment of Common European Data Spaces, made available to the AI community (a new Staff Working Document on common European data spaces has also been published, providing the latest state of play).

The Commission will also establish with a number of Member States, two European Digital Infrastructure Consortiums (EDICs), including the ‘CitiVERSE’ EDIC that will apply state-of-the-art AI-tools to develop and enhance Local Digital Twins for Smart Communities, helping cities simulate and optimise processes, from traffic management to waste management. 

Source: The original article was published here