European summit discusses AI challenges and €500 billion investments

EU leaders held an informal meeting in Dublin to discuss AI challenges, focusing on boosting investments and reducing reliance on foreign technology. European Council President Antonio Costa announced that AI will be the main topic of the 2027 European Social Summit. European Commission President Ursula von der Leyen stated that developing AI in Europe requires investments of at least €500 billion.

EU leaders held an informal meeting in the Irish capital Dublin, during which they discussed ways to boost investments in artificial intelligence and reduce reliance on foreign technology. The announcement came after the first in-depth strategic discussion dedicated by EU leaders to AI, covering two main tracks: enhancing competitiveness and technological independence, and addressing the social, security, and regulatory risks associated with the rapid development of this technology. European Council President Antonio Costa announced that AI and its social impacts will be the main topic of the 2027 European Social Summit, which coincides with the tenth anniversary of the launch of the European Pillar of Social Rights. According to the French newspaper Le Monde, European leaders faced the challenge of reconciling the need for massive investments to compete with the United States and China, with the need to establish safeguards ensuring the safe and responsible use of AI, without the meeting being intended for immediate decision-making. The newspaper quoted European Commission President Ursula von der Leyen as estimating that developing AI and expanding its use in Europe requires investments of at least €500 billion in the coming years.