EU Launches AI Factory To Support Startups And SMEs
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EU Commission Proposes AI Initiatives For Startups

The European Commission has unveiled a proposal to bolster the growth of startups and small to medium enterprises (SMEs) by establishing an AI factory and accompanying initiatives. These measures will facilitate the development of dependable artificial intelligence (AI) tools to uphold the European Union ethos.

The cornerstone of this proposal is the introduction of an AI factory (dedicated AI supercomputers), which will serve as a hub for AI startups and researchers. Industry observers opine that this move will accelerate the adoption of AI technology across various sectors.

Moreover, the proposal includes the creation of an AI Office to coordinate AI-related policies at the European level. The office would also oversee the implementation of the EU AI Act – the world’s first comprehensive legislation addressing powerful AI models.

President Ursula von der Leyen’s September 2023 ‘State of the Union’ address highlighted the intention to make Europe’s supercomputing capabilities available to innovative AI startups for training trustworthy AI models. Subsequently, the Commission launched the Large AI Grand Challenge, offering financial support and supercomputing access to AI startups.

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EU’s Multi-Billion Euro Investment

Meanwhile, the Commission has also announced the EU AI Startup and Innovation Communication initiative. This initiative will generate approximately €4 billion by 2027, leveraging public and private funds.

Furthermore, the Commission collaborated with several member states to establish two European Digital Infrastructure Consortiums (EDICs) – the ‘CitiVERSE’ and the Alliance for Language Technologies (ALT). ALT supports the development of large language models while preserving linguistic diversity. In contrast, ‘CitiVERSE’ leverages advanced AI tools to help cities optimize various processes, including traffic and waste management.

Nvidia, NSF Partner on AI Research Initiative

Moreover, the famous chip manufacturing firm Nvidia has announced a new collaboration with the United States NSF to launch the NAIRR (National Artificial Intelligence Research Resource). This collaborative effort aims to broaden access to tools necessary for responsible AI innovation.

Nvidia will commit $30 million in technology contributions over the next two years. The good news is that the initiative has garnered support from various entities within the US government, including the National Institute of Standards and Technology and the Defense Advanced Research Projects Agency (DARPA).

The launch of the NAIRR pilot aligns with the Biden administration’s executive order on AI, emphasizing the importance of investing in AI research and development to bolster America’s global competitiveness. The EU and the US are strengthening their commitments to advancing AI technologies, indicating that they recognize its transformative potential.

Google Unveils AI Video Model

In a related development, Google recently unveiled Lumiere, an AI model that will revolutionize the world of video production. Lumiere utilizes a unique Space-Time U-Net architecture, allowing users to transform text or images into stunningly realistic videos with unparalleled editing capabilities.

By employing spatial and temporal down- and up-sampling techniques, Lumiere generates full-frame-rate, low-resolution videos in a single pass, significantly enhancing the output quality. This innovative approach marks a significant leap forward in AI-generated video technology,

Ethical Concerns And Legal Implications

The implications of Lumiere’s release are far-reaching, with experts predicting a surge in demand for AI-generated video content in the coming year. However, the absence of clarity regarding the source of the training data used to develop Lumiere has raised eyebrows, particularly in light of recent legal battles involving other AI models.

The debate over the ethical use of copyrighted material in AI research and development continues to be a contentious issue, with stakeholders calling for greater transparency and accountability in the industry.

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George Ward

By George Ward

George Ward is a crypto journalist and market analyst at Herald Sheets, known for his engaging articles on the latest digital currency trends. With a background in finance and journalism, he presents complex topics accessibly. George holds a degree in Business and Finance from the University of Cambridge.

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