Spanish Government Will Invest $550 Million in Artificial Intelligence Tech

The Spanish government said it is planning to invest $550 million into a new Artificial Intelligence strategy in an effort to transform Spain’s infrastructure and economy.

The Spanish government said it is planning to invest $550 million into a new Artificial Intelligence strategy in an effort to transform Spain’s infrastructure and economy.

During a Thursday morning press conference in capital Madrid, Spain’s Prime Minister Pedro Sanchez told local reporters that his government will invest $550 million into the development of a national Artificial Intelligence strategy between the years 2021 and 2023, which the chance of further funding “if things are done properly.”

The leftist leader also said “this ambitious strategy will encompass the application of Artificial Intelligence in administration, education and even business, and will attempt to make this country a global center for the emerging tech field.

Of the $550 million allocated budget, $200 million will be invested directly into technological development. A further $100 million will be spent on integrating Artificial Intelligence into the economy and production, while $50 million will go towards applying it into public and government systems. The remaining funds will be invested into the promotion of research, education and professional training.


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