As Bloomberg reported on January 23rd.European UnionAn Advanced Research Projects Agency, modeled after a U.S. government entity, will be proposed to invest in strategic technologies as a way toImproving EU competitivenessas part of a broader effort.
The EU will also call forbecause of AI Building new supercomputing infrastructureThe plans have been incorporated into a new draft EU strategy to be released at the end of January, informed sources and documents show. Sources familiar with the matter and documents show that the plans have been incorporated into a new draft EU strategy to be released at the end of January.
The program, dubbed the "Competitiveness Compass," will be released next month and is intended to provide guidance on competing with the U.S. and China over the next five years.
EU report warns that without major changes, the future of the EU as an advanced economy, investment destination and manufacturing centerWill be at risk. The report presents a series of plans that will be fleshed out in specific proposals and legislation in the coming months.
To improve access to funds, the EU will review its merger rules and in the next budget launch anCompetitiveness Fund. According to IT House, the fund was inspired by the U.S. government's Advanced Research Projects Agency for investing in strategic technologies such as AI, advanced materials and robotics.
The EU will also beCloud computing, quantum computing, and space and biotechnologyarea to develop other initiatives. The group aims to launch within the next two yearsDozens of initiativesto address these issues.
