MILAN (Reuters) -The European Investment Bank is working on a new project to enhance European capabilities on artificial intelligence and semiconductors, with the aim of raising 70 billion euros ($78 billion) by 2027, its head said on Saturday. The blueprint is part of the European Union’s efforts to increase its competitiveness against China, the United […]
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EIB at work on AI, semiconductor investment plan to boost EU competitiveness
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MILAN (Reuters) -The European Investment Bank is working on a new project to enhance European capabilities on artificial intelligence and semiconductors, with the aim of raising 70 billion euros ($78 billion) by 2027, its head said on Saturday.
The blueprint is part of the European Union’s efforts to increase its competitiveness against China, the United States and other major economies.
The new blueprint, named ‘Tech EU’ aims to attract a total of 250 billion euros in investments over the long term, EIB president Nadia Calvino told Italian daily Corriere della Sera, without giving details.
The ‘Tech EU’ project will also focus on health technologies and critical commodities, she said.
The EU also needs market integration, investment and simplification to strengthen its competitiveness, Calvino said.
($1 = 0.8958 euros)
(Reporting by Sara Rossi, editing by Susan Fenton)