Germany plans to double funding for artificial intelligence to compete with China and the US

The German government will increase funding for artificial intelligence research to €1bn over the next two years in an attempt to close the gap with China and the US.

Here's What We Know

Germany plans to create 150 new university labs for AI research, expand data centres and provide access to complex open data sets from which algorithms can extract new insights.

According to a report by Stanford University, the US government will spend $3.3bn on AI research in 2022. Against this backdrop, Germany's plans look rather modest.

Private spending on AI in the US has reached $47.4bn. This is almost twice as much as in Europe and much more than in China ($13.4bn), according to Stanford's 2022 report.

However, German Research Minister Bettina Stark-Watzinger said an evolving European regulatory framework that places greater emphasis on privacy and personal security could attract players to Germany.

Source: Reuters