Facebook has disclosed that it plans to invest around €10 million ($12.3 million) in its artificial intelligence (AI) center located in the French Capital Paris. The move is the latest sign of social media giant’s growing confidence about France’s ability to deliver in AI technology.
Facebook said that the €10 million investment would span across five years and would seek to increase the number of AI scientists at its Paris research base to nearly 60. It also revealed the plan to offer funds to more PHD candidates, from 10 to estimated 40 candidates.
Paris is emerging as one of the frontal cities in Facebook’s broad strategy to take a decisive leap in AI technology. Facebook’s AI facility in Paris, which is globally known as the fashion capital, is the only AI research lab outside the U.S. The social media giant’s other AI labs are located in Menlo Park and New York.
Facebook’s Director of AI research Antoine Bordes, who was in Paris, echoed company’s belief that France has the potential to emerge as one of the sought after countries in AI-related research.
France along with UK is among the two European countries that are taking huge strides in AI research. Both countries have announced a dedicated policy for AI to attract more investment in this supposedly breakthrough technology.
All major countries across the globe are trying to emulate the global tech industry as they try to outdo each other in the AI race. While some experts have described AI as a mere hype, most agree that this technology is the next big thing that will eventually determine the fortunes of big firms as major countries in coming decades.
However, the on-going hype around AI has brought with it fear of impending massive job losses. Many experts argue that human’s limited abilities simply don’t stand a chance to compete against cutting edge technology like AI, resulting in possibly millions of job losses across the world.