Italy Plans To Establish AI Investment Fund Supported By Cassa Depositi E Prestiti

Italian cabinet deputy minister, Alessio Butti, (photo: twitter @AlessioButti_)

JAKARTA - The Italian government plans to establish an investment fund supported by state financial institutions Cassa Depositi e Prestiti (CDP) to encourage investment in startup companies engaged in Artificial Intelligence (AI). This was revealed by the cabinet deputy minister, Alessio Butti, on Tuesday, May 30.

"This upcoming investment agency will "drive studies, research, and programming in the AI sector in Italy," Butti said in a statement.

The rapid spread of AI and automation, as well as the rapid development of tools such as ChatGPT, have attracted the attention of politicians and regulators around the world.

Many experts argue that new regulations are needed to regulate AI due to its potential impact on national security, education, and employment.

"The government is monitoring developments in the field of artificial intelligence, a field where there needs to be a balance between human rights and technological evolution," Butti said.

"We aim to increase the independence of the Italian industry and develop our national capacity in developing expertise and research in strategic sectors like this," Butti said.

An Italian government source quoted by Reuters revealed that Roma plans to allocate around 150 million euros (about 2.5 trillion rupiah) to launch the funds.

It is estimated that CDP will invest its own resources in this scheme through the CDP Venture Capital, a fund with assets under management worth around 3.2 billion euros (around 53.7 trillion rupiah).