Italy announced a new AI plan, allocating 1 billion euros to AI development for use over the next five years, focusing on its ethical use. Italy’s AI development plan involves a venture capital arm funding startups, mature companies scaling AI technologies abroad, and transferring AI technologies from universities to market. Simultaneously, Italy is working on creating AI legislation to complement the EU’s regulations, with potentially severe penalties for crimes involving AI. This aligns with the EU’s broader efforts to strengthen AI innovation and economic competitiveness, while addressing the associated risks.
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