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Italy to invest 1 billion euros to promote artificial intelligence development

Italy’s Prime Minister Giorgia Meloni said on Tuesday the government will create an investment fund worth (AI).

Speaking via video link at a meeting on “Artificial Intelligence for Italy” in Rome, Meloni said the fund will come from the venture capital unit of Cassa Depositi e Prestiti, the state lender.

It will be activated in conjunction with a yet-to-be-finalized Italian law on AI aimed at regulating the new technology, she said.

“The government is preparing a new law that will establish principles and set rules complementary to European Union regulations… and identify the most effective measures to stimulate our productive capabilities,” Meloni said.

She said the government has not yet decided what entity will oversee the regulation of AI-based technologies.

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Famagusta Gazette