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On Wed, 2 Oct, 4:05 PM UTC
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OpenAI, Italian state lender CDP team up for AI use in startups
MILAN (Reuters) - OpenAI and Italy's state lender CDP have signed a memorandum of understanding to support the take up of artificial intelligence (AI) by Italian startups and innovative firms. In a joint statement on Wednesday, the two companies said the ChatGPT maker would invest directly and indirectly in start-ups developing AI-based products or services through the venture capital arm of CDP. The agreement should give Italian companies access to OpenAI's advanced technologies and funding from U.S. venture capitalists, the statement added. In April CDP Venture Capital said it would invest 1 billion euros ($1.11 billion) in AI and cybersecurity over the next five years. The agreement follows a meeting between Italian Prime Minister Giorgia Meloni and OpenAI CEO Sam Altman on the sidelines of the UN General Assembly in New York last week, CDP and OpenAI said. (Reporting by Cristina Carlevaro, editing by Alvise Armellini and Louise Heavens)
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OpenAI, Italian state lender CDP team up for AI use in startups
MILAN, Oct 2 (Reuters) - OpenAI and Italy's state lender CDP have signed a memorandum of understanding to support the take up of artificial intelligence (AI) by Italian startups and innovative firms. In a joint statement on Wednesday, the two companies said the ChatGPT maker would invest directly and indirectly in start-ups developing AI-based products or services through the venture capital arm of CDP. The agreement should give Italian companies access to OpenAI's advanced technologies and funding from U.S. venture capitalists, the statement added. Advertisement · Scroll to continue In April CDP Venture Capital said it would invest 1 billion euros ($1.11 billion) in AI and cybersecurity over the next five years. The agreement follows a meeting between Italian Prime Minister Giorgia Meloni and OpenAI CEO Sam Altman on the sidelines of the UN General Assembly in New York last week, CDP and OpenAI said. ($1 = 0.9035 euros) Reporting by Cristina Carlevaro, editing by Alvise Armellini and Louise Heavens Our Standards: The Thomson Reuters Trust Principles., opens new tab
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OpenAI, the creator of ChatGPT, partners with Italian state lender CDP to promote AI adoption among startups and small-to-medium enterprises in Italy. This collaboration aims to boost innovation and economic growth in the country.
OpenAI, the artificial intelligence company behind the popular ChatGPT, has entered into a strategic partnership with Cassa Depositi e Prestiti (CDP), Italy's state lender. This collaboration aims to promote the adoption of AI technologies among startups and small-to-medium enterprises (SMEs) in Italy 1.
The partnership between OpenAI and CDP is set to play a crucial role in accelerating the integration of AI technologies into the Italian business landscape. By focusing on startups and SMEs, the initiative aims to foster innovation and drive economic growth across various sectors of the Italian economy 2.
CDP, as Italy's state lender, will leverage its extensive network and financial resources to support the initiative. The institution will work closely with OpenAI to identify promising startups and SMEs that could benefit from AI integration. CDP's involvement is expected to provide a significant boost to the country's tech ecosystem and help bridge the gap between traditional industries and cutting-edge AI technologies 1.
OpenAI, known for its advanced AI models like ChatGPT, will bring its technical expertise and resources to the partnership. The company is expected to provide access to its AI technologies, training programs, and potentially customized solutions for Italian businesses. This collaboration will enable startups and SMEs to harness the power of AI for improving their operations, products, and services 2.
The partnership between OpenAI and CDP is anticipated to have a significant impact on Italy's technology ecosystem. By promoting AI adoption among startups and SMEs, the initiative aims to enhance the competitiveness of Italian businesses on both national and international levels. This collaboration could potentially lead to the creation of new AI-driven products and services, job opportunities in the tech sector, and overall economic growth 1.
As AI technologies continue to evolve rapidly, the partnership is likely to address ethical and regulatory concerns associated with AI adoption. Italy, like many other countries, is working on developing frameworks to govern the use of AI in business and society. The collaboration between OpenAI and CDP may contribute to shaping responsible AI practices and ensuring compliance with emerging regulations 2.
The partnership between OpenAI and CDP in Italy could serve as a model for similar initiatives in other countries. As governments and private sector entities worldwide seek to harness the potential of AI, collaborations between tech giants and state institutions may become more common. This approach could help bridge the AI adoption gap between large corporations and smaller businesses, fostering more inclusive technological progress 1 2.
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