The European Commission announced first-of-its-kind legislation regulating the use of artificial intelligence in April. This unleashed criticism that the regulations could slow AI innovation, hamstringing Europe in its competition with the U.S. and China for leadership in AI. For example, Andrew McAfee wrote an article titled "EU proposals to regulate AI are only going to hinder innovation." Anticipating this criticism and mindful of the example of GDPR, where Europe's thought-leadership position didn't necessarily translate into data-related innovation, the EC has tried to address AI innovation directly by publishing a new Coordinated Plan on AI. Released in conjunction with the proposed regulations, the plan is full of initiatives intended to help the EU become a leader in AI technology.

The European Commission announced first-of-its-kind legislation regulating the use of artificial intelligence in April. This unleashed criticism that the regulations could slow AI innovation, hamstringing Europe in its competition with the U.S. and China for leadership in AI. For example, Andrew McAfee wrote an article titled "EU proposals to regulate AI are only going to hinder innovation." Anticipating this criticism and mindful of the example of GDPR, where Europe's thought-leadership position didn't necessarily translate into data-related innovation, the EC has tried to address AI innovation directly by publishing a new Coordinated Plan on AI. Released in conjunction with the proposed regulations, the plan is full of initiatives intended to help the EU become a leader in AI technology.

On 21 April 2021, the European Commission proposed new rules and actions aimed at making Europe the global hub for trustworthy Artificial Intelligence (AI). The combination of the first-ever legal framework on AI and a new Coordinated Plan with Member States will endeavour to guarantee the safety and fundamental rights of people and businesses, while strengthening AI uptake, investment and innovation across the EU. New rules on Machinery will complement this approach by adapting safety rules to increase users' trust in new products. Margrethe Vestager, Executive Vice-President for a Europe fit for the Digital Age, said: "On Artificial Intelligence, trust is a must, not a nice to have. With these landmark rules, the EU is spearheading the development of new global norms to make sure AI can be trusted. By setting the standards, we can pave the way to ethical technology worldwide and ensure that the EU remains competitive along the way. Future-proof and innovation-friendly, our rules will intervene where strictly needed: when the safety and fundamental rights of EU citizens are at stake."

This is why the European Commission has proposed a set of actions to boost excellence in AI, and rules to ensure that the technology is trustworthy. The Regulation on a European Approach for Artificial Intelligence and the update of the Coordinated Plan on AI will guarantee the safety and fundamental rights of people and businesses, while strengthening investment and innovation across EU countries. Once the AI system is on the market, authorities are in charge of the market surveillance, users ensure human oversight and monitoring, while providers have a post-market monitoring system in place. Providers and users will also report serious incidents and malfunctioning. In 2018, the Commission and EU Member States took the first step by joining forces through a Coordinated Plan on AI that helped lay the ground for national strategies and policy developments.

Artificial intelligence (AI) refers to systems that display intelligent behaviour by analysing their environment and taking actions – with some degree of autonomy – to achieve specific goals. Many AI approaches critically depend on the availability of data to achieve their results, or use learning methods to reach their peak performance or improve over time. Enabled by computing power, availability of data and progress in algorithms, AI is progressively turning into one of the strategic technologies of the 21st century. AI can contribute to a wide array of benefits across the entire spectrum of economic and social activities. It can help to solve complex problems and boost the green and digital transformation of businesses and societies.

Artificial intelligence (AI) has become an area of strategic importance and a key driver of economic development. It can bring solutions to many societal challenges from treating diseases to minimising the environmental impact of farming. However, socio-economic, legal and ethical impacts have to be carefully addressed. It is essential to join forces in the European Union to stay at the forefront of this technological revolution, to ensure competitiveness and to shape the conditions for its development and use (ensuring respect of European values). The Commission is increasing its annual investments in AI by 70% under the research and innovation programme Horizon 2020.

Source: Capital IQ; Pitchbook; Deallogic; S&P; McKinsey Global Institute "Overall Europe is behind in private investments in Artificial Intelligence" AI strategy for Europe* * COM(2018)/237 Total VC Investments in Blockchain (2010-2018) • North America: $5,1 billion (Canada: $623 Mill.) • China: $1.5 billion • Europe: $1,2 billion (CH:$414 Mill.&

The Italian strategy on artificial intelligence is now subject to a consultation proceeding to fine-tune its contents and finalize the actions to be taken. In April 2018, the European Commission published a proposal for a European strategy for AI in a communication entitled "Artificial Intelligence for Europe". Based on the strategy outlined above, the European Commission issued a Coordinated Plan on Artificial Intelligence, launching a European Artificial Intelligence Alliance and setting up an expert group on AI. The latter has the goal of defining the ethical guidelines and investment policies for artificial intelligence in Europe. An essential step required by the above-mentioned Coordinated Plan on Artificial Intelligence is that each EU Member State develops national AI strategies, outlining investment levels and implementation measures.

The European Council adopted last 18 Febreary conclusions on the Coordinated Plan on the development and use of Artificial Intelligence Made in Europe.