Europe is about to get a large-scale applied AI Hub with the initial backing of institutes and organisations in Denmark, France, Germany, Norway and Finland. Each of the backers is already heavily involved in shaping national AI developments on an individual basis and they are now combining forces to strengthen the broader European AI ecosystem. The memorandum outlines an action plan as well as the organisational structure of the 'European Applied AI Hub'. Supported by an operational budget of €200-300k in the first year, the Hub plans to begin by identifying and boosting key market strengths of local ecosystems and facilitating access to funding and resources for European AI companies.
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