Italy to Set up Artificial Intelligence (AI) Fund of 1 Billion Euros, PM Says.

Italy will establish a 1 billion euro ($1.09 billion) fund to promote Artificial Intelligence (AI) projects, according to Prime Minister Giorgia Meloni. The fund, supported by CDP Venture Capital (a unit of state lender Cassa Depositi e Prestiti), may secure an additional 2 billion euros from the private sector, as stated by the company's CEO, Agostino Scornajenchi. Both leaders announced this at an AI conference in Rome. Italy, holding the presidency of the Group of Seven major democracies this year, aims to address the impact of AI on jobs and inequality, while also implementing safeguards for its technological development.

Prime Minister Meloni emphasized the need for an "Italian way to artificial intelligence" and mentioned ongoing efforts to introduce legislation regulating the AI sector in Italy. As part of this legislation, set to be presented in the coming weeks, Cabinet Undersecretary Alessio Butti explained that Rome would establish a body with a supervisory and supporting role for the implementation of the national AI strategy. The move aligns with Italy's broader strategy to foster AI innovation and mitigate potential challenges associated with its adoption.

प्रधानमंत्री ने कहा, इटली 1 अरब यूरो का आर्टिफिशियल इंटेलिजेंस (AI) फंड स्थापित करेगा।

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