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Italy sets up €1B AI fund, mulls new penalties for the tech’s misuse
April 9, 2024, 3:54 p.m. | Ioanna Lykiardopoulou
The Next Web thenextweb.com
Backed by state lender Cassa Depositi e Prestiti (CDP), Italy is committing €1bn to AI development over the course of the next five years. Prime Minister Giorgia Meloni first announced the plan for a dedicated AI fund last month. “The purpose of this mechanism is clearly to act as a multiplier and serve to attract further investment,” Meloni said in a video message. CDP’s venture capital arm will provide the capital, divided into three areas. Some €580mn will be invested …
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