Experts propose massive investment in artificial intelligence in Norway
Researchers at BI Norwegian Business School believe that Norway should take a leading role in the development of artificial intelligence (AI) in Europe. They are now proposing that the state allocate 500 billion kroner from the Government Pension Fund Global to a separate fund dedicated to this purpose.
The proposal comes as a response to the rapid technological development internationally. According to the experts, it is crucial that Europe develops its own technology to ensure independence from major players in the USA and China. They argue that a country that cannot develop its own technology risks losing its freedom and agency in the future.
The Government Pension Fund Global, formally known as the Government Pension Fund Global, currently invests in many different companies around the world. By creating a specialized fund for artificial intelligence, the proponents aim to build up expertise and infrastructure that can benefit Norwegian and European business sectors.
The debate on how Norway should use its financial wealth to ensure future growth is central. This proposal is one of several contributions to the discussion on how oil revenues can contribute to the green and digital transition in the years to come.
No political decisions have been made regarding the proposal as of yet. The discussion on whether the Government Pension Fund Global should be used for such strategic investments will likely continue in the time ahead, both in academia and in the political environment.