Author: Sophia Khatsenkova
Published on: 11/02/2025 | 00:00:00
AI Summary:
European Union will channel €200 billion into AI investments in a bid to catch up with the thriving tech ecosystems in the US and China. These investments are meant to boost EU companies in developing more advanced AI systems following the release of popular AI chatbots like ChatGPT and China's DeepSeek. The announcement was warmly welcomed by multiple start-ups present at the Station F incubator in Paris. ADVERTISEMENT US Vice President JD Vance warned against "excessive regulation" of artificial intelligence. Vance said the Trump administration will not accept other companies "tightening the screws" on US companies. Europe is championing a hands-off approach to innovation. China is rapidly expanding AI through state-backed tech giants. "The Trump administration is troubled by reports that some foreign governments are considering tightening the screws on US tech companies with international footprints," Vance says. Vance made his first foreign trip to attend the AI Action Summit. China signed the declaration, further widening the distance between the US and the rest of the world in the struggle for AI supremacy. The agreement comes as the EU enforces its AI Act, the world’s first comprehensive AI law.
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