Italy Plans To Establish IDR 16.9 Trillion Investment Funds For Artificial Intelligence Projects

JAKARTA - Italian Prime Minister Giorgia Meloni announced on Tuesday March 12 about his country's plan to set up investment funds with initial funds of 1 billion euros (Rp 16.9 trillion) to promote Artificial Intelligence (AI) projects.

The agency is backed by CDP Venture Capital, a unit of state loan provider Cassa Depositi e Prestiti (CDP). The funds can raise an additional 2 billion euros from the private sector," said the company's Chief Executive Officer, Agostino Scornajenchi.

Meloni and Scornajenchi spoke at a conference on AI in Rome.

Italy wants to use its term as president of this year's Group of Seven major democracies to focus on the impact AI has on work and inequality while also establishing protection for the development of the technology.

"We believe that it can and there must be an Italian way for artificial intelligence," Meloni said in a video message. He added that the Italian government is working on a bill to regulate the sector in Italy.

As part of the planned regulations, which will be delivered in the coming weeks, the Deputy Cabinet Minister of Italy, Alessio Butti, said that Roma would create a body with a supervisory and support role in implementing the national artificial intelligence strategy.