The Italian government has announced its intention to create an investment fund, supported by state lender Cassa Depositi e Prestiti (CDP), aimed at fostering the growth of startups involved in Artificial Intelligence (AI), according to cabinet undersecretary Alessio Butti. In a statement, Butti explained that the upcoming initiative would serve to promote study, research, and programming of AI in Italy.
The widespread adoption of AI and the rapid advancements in tools like ChatGPT have captured the attention of policymakers and regulators worldwide. Recognizing the need for appropriate regulations, many experts argue that the impact of AI on national security, education, and employment necessitates careful oversight.
Butti emphasized the importance of striking a balance between human rights and technological progress, stating that the government is closely monitoring developments in artificial intelligence, as it is an area where they must find equilibrium. The government aims to enhance the autonomy of the Italian industry and nurture their national capabilities to develop expertise and research in this strategic sector.
A government source revealed that Rome plans to allocate approximately 150 million euros ($165 million) to launch the fund. CDP, through its fund CDP Venture Capital, which manages around 3.2 billion euros in assets, is expected to contribute its own resources to the initiative.
