The thinking in Europe when it comes to AI, is "AI for industry", or "AI for science". Like they think of AI as providing a supporting role in industry or science, but they do not think of AI as a goal in itself. This thinking is analogous to the way EU leadership treated "tech" for the past three decades and look how well that turned out for us...

If we had good leadership, these funds would be used to setup 2 or 3 competing AI labs. Forget all that "AI for industry" and "AI for science" nonsense and just catch up to the US and China, and have something competitive, for once.