Spain will invest 600 million euros ($722.6 million) to develop the National Artificial Intelligence Strategy in 2021-2023, Spanish Prime Minister Pedro Sanchez said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 02nd December, 2020) Spain will invest 600 million Euros ($722.6 million) to develop the National Artificial Intelligence Strategy in 2021-2023, Spanish Prime Minister Pedro Sanchez said on Wednesday.
"The public investment will amount to 600 million euros in the 2021-2023 period, to which the Next Tech Fund will be added to promote the entrepreneurship related to the adoption of the digital technologies," the prime minister said at a press conference.
Sanchez explained that 275 million euros will be directed to the technological development of the artificial intelligence (AI) while 133 million euros will be invested in its integration in all economic sectors.
Another 100 million euros will be directed to the AI implementation in different areas of the public administration, 42 million to promote talents in the digital sector, another 42 million euros to develop technological infrastructure and about eight million euros will be dedicated to the development of ethical and regulatory framework.
The prime minister added that the plan would attract about 3.3 billion euros in private investment and the AI would contribute to the Spanish labor market transformation and an increase in employment.
The AI strategy is part of the Agenda Digital Spain 2025 that seeks to bolster development of an inclusive and sustainable artificial intelligence.
