According to a blog post, the European Investment Fund (EIF) together with the European Commission, have jointly raised €100 million (about $110 million), specifically for investments with proceeds to be channelled into funding blockchain technology and AI endeavours in the region.
The post highlights that so far, the United States is the biggest spender on blockchain and AI, and is expected to spend $1.1 billion. Western Europe comes in at number 2 with $674 million and China at number 3, with $319 million, according to the International Data Corporation.
“AI and blockchain can only change lives if they can be commercialized and used. We’re looking forward to making that happen.”
Image Credits: Pixabay
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