On Tuesday, cabinet undersecretary Alessio Butti announced that Italy would create an investment fund supported by state lender Cassa Depositi e Prestiti (CDP) to support AI businesses.
“Promote study, research and programming on AI in Italy,” Butti stated. Politicians and authorities worldwide are watching AI, automation, and tools like ChatGPT flourish.
Due to its potential impact on national security, education, and jobs, many experts argue AI needs additional restrictions.
“The government is looking at developments in artificial intelligence, an area where a balance must be struck between human rights and technological evolution,” Butti added.
“We aim to increase the independence of Italian industry and cultivate our own national capacity to develop expertise and research in such a strategic sector.”
A government source told Reuters Rome planned to launch the fund with 150 million euros ($165 million). CDP Venture Capital, a 3.2 billion euro fund, is slated to invest in the scheme.