AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023.
The target, announced by research minister Bettina Stark-Watzinger on Wednesday, is modest compared with the $3.3 billion that the U.S. government spent on AI research in 2022 according to a Stanford University report.
It is dwarfed by private AI spending in the U.S., which reached $47.4 billion in 2022, almost double Europe's total spend, and well ahead of China's $13.4 billion, the Stanford report found.
Simpler regulations would promote private research spending, she added.
Even though Germany has nothing to compare with the U.S.'s tech behemoths, its number of AI startups has doubled in 2023, but that still only puts Germany in ninth place globally, Stark-Watzinger acknowledged.
Persons:
Dado Ruvic, Bettina Stark, Stark, Watzinger, Thomas Escritt, Devika
Organizations:
REUTERS, Rights, Stanford University, Stanford, European Union, U.S, Germany, Thomson
Locations:
Germany, China, United States, U.S