AI in the EU: "Not enough investment to match the world leaders" (Court of Auditors)

"The EU is struggling to develop the European artificial intelligence ecosystem and has failed to boost investment in AI sufficiently to match the world leaders in the sector", according to the European Court of Auditors, in its report dedicated to AI published on 29/05/2024.

In particular, the Court of Auditors states that:

• "the AI investment targets were not specific as to the expected results;
• the Commission did not update the investment targets set in 2018. No comprehensive monitoring framework was in place to regularly check the performance of the EU ecosystem, and the AI plans did not contain specific performance targets;
• the arrangements for Member States' contributions to the overall EU investment targets were not specified."

"Going forward, stronger governance and greater - and better targeted - public and private investment will be essential if Europe is to meet the AI challenge."

On the same day, the Commission announced the establishment of an AI Office within the Commission. It "aims to enable the future development, deployment and use of AI in a way that promotes…