Italy is set to get involved in the battle for AI supremacy with the launch of a new €1 billion investment fund dedicated to AI ventures in the country, with a further €2 billion in capital contributions expected from the private sector.
Prime Minister Giorgia Meloni announced the initiative at an event hosted by Italy’s digital transformation ministry, stating that her government expects this to attract further investments aligning with a desire to establish an “Italian way” to develop and govern AI systems.
Meloni described AI as the “greatest revolution” as well as a challenge from an economic, social and anthropological standpoint. She asserted that AI would only benefit society if its development “moves within a perimeter of ethical rules that put the person, their rights and their needs at the centre”.
The Prime Minister also disclosed that a national AI strategy was being created by a committee of “the best Italian experts”, and that preparations were already underway to introduce legislation seeking to establish foundational principles “complementary to those of the European regulations” around the use of AI.