For a man who’s spent his career battling to make France more pro-business, Europe’s prospects on artificial intelligence are worrying: an oversight that could cost the bloc dearly.

French President Emmanuel Macron has cautioned that US-imposed tariffs on European goods would increase inflation for American consumers. He emphasized the need for the EU to strengthen its competitiveness,

President Emmanuel Macron said on Sunday that France will announce investments amounting to 109 billion euros ($112.5 billion) in artificial intelligence over the coming years during the Paris AI summit opening Monday.

PARIS - French President Emmanuel Macron announced on Sunday night that France is set to receive a total investment of 109 billion euros (113 billion US dollars) in artificial intelligence (AI) in the coming years.

The money includes intentions by Canadian investment giant Brookfield to spend 20 billion euros in AI projects in France, as well as financing from the United Arab Emirates that might total 50 billion euros in the coming years,

French President Emmanuel Macron trumpeted the benefits of artificial intelligence Sunday, ahead of a two-day Paris summit on the technology and its potential benefits and pitfalls.

France will announce private sector investments totalling some 109 billion euros ($112.5 billion) in its artificial intelligence sector during the Paris AI summit which opens on Monday, President Emmanuel Macron said.