CDP Venture Capital

History

2023: Foundation Creation

On May 30, 2023, Deputy Foreign Minister Italy Alessio Butti announced that a specialized investment fund had been formed in the country to support startups in the region. artificial intelligence

Cassa Depositi e Prestiti (CDP), an Italian state bank, takes part in the project. The new CDP Venture Capital fund is expected to facilitate AI research and help develop and implement appropriate solutions. It is noted that the growing spread of neural networks and automation, as well as the rapid development of tools such as ChatGPT, have attracted the attention of government agencies and regulators around the world. Italy intends to contribute to the development of the industry.

Italy sets up investment fund to support AI start-ups

We aim to increase the independence of the Italian IT sector and expand our own national capacity to conduct research in this strategically important area, "said Bouti.

According to available information, Rome intends to spend about €150 million on the establishment of a state fund for investing in AI startups. CDP is expected to invest in the project through an organization that manages assets worth approximately €3.2 billion. At the same time, it is noted that it is necessary to introduce new norms for regulating the artificial intelligence industry due to its potential negative impact on national security, the educational sector and other sectors. In addition, there are concerns that the widespread introduction of AI will provoke an increase in the unemployment rate.

The government is monitoring developments in artificial intelligence, an area where a balance must be struck between human rights and technological evolution, Alessio Buti said.[1]

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