EU approves €2 billion funding package for digital transition
Preparing for the digital transition is high on the EU’s list of priorities. In a recent survey, 30% of workers fear that changes in technology will affect their job prospects, so it’s important that investments are made to keep up with the ever-changing demands of technological changes.
In light of this, the European Commission has introduced three new packages as part of its Digital Europe Programme, which will include nearly €2 billion in funding for different projects.
Furthermore, the Digital Europe Programme aims to boost European competitiveness in technology in the long term. In order to do this, it has promised an additional €7.5 billion in funding over the next seven years.
Part of this money will also contribute towards achieving carbon neutrality in Europe by 2050, which was recently set out in the EU Green Deal.
What are the new funding packages?
There are three new funding packaging in total. The first will focus on AI and strategic investment, which includes digital skills sharing, cybersecurity, and digital skills sharing.
A second package will be introduced to support digitalization – something that most experts agree is essential for Europe to compete in the coming years. This package will, among other things, set up and maintain a network of Digital Innovation Hubs to support digital growth.
The third – and largest – program to receive funding will provide investment for cloud technologies and quantum communication infrastructure over the next two months.
In particular, boosting AI is considered a key strategy for tackling some of Europe’s major societal problems, such as climate change and border security.
The EU hopes that this funding will help the bloc meet its “Digital Decade” goals. It also hopes that it will help solve the “twin challenges for our generation” – green and digital. It aims to make Europe greener and more digital by boosting sovereignty in the technological sphere.