Scientists are raising awareness on the matter of Europe’s finest talent preferring to work overseas and are calling on stakeholders to have more AI institutes based in Europe to curb this. With technology rapidly changing, AI technology will only grow its influence in society, and if there is no intervention preferably from the EU, the European economy will take a negative hit.
China has set its sights on becoming the global leader when it comes to AI and the massive investments in billions of Euros poured into the industry is a testament to this. However, Europe realizes this, and over the course of the next 3 years, more than €3 billion will be spent on AI in Europe, in collaboration between private firms and the EU. It also plans to increase the amount of revenue availed for startups in Europe to €500 million.
Two Artificial initiatives and startup funds
ELLIS was a proposal that came as a result of the EU’s budget that seeks to create an initiative for research and machine learning that will require about €600 million to start and roughly €90 million to sustain on a yearly basis. CLAIRE is the other initiative which focuses more on all the parts of AI. There is no disputing the level of impact artificial intelligence will have on the economy, and these two initiatives are all focused on achieving this goal, but will hardly get in the way of one another as strategic planning and execution will ensure that.
Dangers of Artificial Intelligence
AI has no bias of its own rather all the outcomes are engineered by algorithms that people conjure to favor a particular outcome. Past experiences often make people alter and shape the course of future events and when it’s no different when it comes to AI. Such human errors have to be litigated going forward, and this is why Holger Hoos feels the need to incorporate scientific disciplines coupled with cognitive psychology. Investigations are being carried out in an attempt to hand an AI logical thinking capacity and how insight can be given in the decision-making process.
Scientists have reason to believe that companies should be open as knowledge might be confined to the walls of the company. Satisfying shareholders is the primary objective of most companies, but AI could be fed algorithms that influence buyers’ decisions without even realizing it. This is where CLAIRE is of grave importance as it should develop AI that can be trustworthy because AI might be programmed to carry out a task but later on do the opposite of what it was intended to.
In a military setting, AI can be disastrous, but CLAIRE seeks to ensure it is not by ensuring there are guidelines to be followed and an advisory role to be played. The EU still lacks this form of computing power; however, by bringing together all forces in one place, not only will computing power be added, but good researchers and prestigious research projects will shortly follow. In this way, a leading institute will be created.
Hoos made a couple of comparisons between CLAIRE and CERN, which is also a leader in science in the European tech scene, deducing that CLAIRE has to be just as good and inspiring as CERN especially when solving issues and challenges. In a world where people from all disciplines are to be motivated, powerful computers need to arise with the research facilities being top of the line. Improvements need to be made to grow opportunities to be at par with Silicon Valley and China.
Toronto, Canada, Sandra Wubben runs flow AI and the past few months have seen the company operate from Toronto, participating in an accelerator program of Techstar. However, they are back to Tilburg. Flow.ai is developing software for chatbots and then puts it on a platform on the internet where users are able to generate their chatbot. Canada is way advanced in this field with universities putting in a shift in AI related studies, and high salaries make it had for talent to turn down this place. In Tilburg, as well, businesses are queuing up for those who know AI. This is the reason why Wubben believes that it’s a great idea for the European Union to invest in the development of technology, although it is in question whether Europe can compete with the gigantic sums that are involved in the US and Canada.
European Head Office
Europe is ready to welcome a sizable company as the headquarters of AI. It matters where the head office is located and especially these days where all goes through clouds and the internet. However, European companies make little competition when the headquarters are located in Europe. When it comes to AI, it needs to be integrated to the school systems and made understood by the next generation because the effect AI will have in the future will be astonishing. Failure to do this will only lead to a major problem.