The European Commission has unveiled a 1 billion euro initiative to promote the adoption of artificial intelligence in critical industries.

The new "Apply AI" strategy is based on an action plan introduced in April, which aimed to alleviate the regulatory and financial pressures faced by startups navigating the key EU artificial intelligence rules that come into effect in August 2024. The plan reflects the EU's effort for technological sovereignty, ensuring that Europe can compete globally and maintain control over its digital future.