Brazil Unveils $4.07B AI Investment Plan for Sustainability and Competitiveness

TapTechNews July 31, according to Reuters, the Brazilian government announced on Tuesday a proposed artificial intelligence investment plan of about 4.07 billion US dollars (TapTechNews note: 23 billion reais, currently about 29.499 billion yuan). The plan aims to develop sustainable and society-oriented technologies. As the largest economy in Latin America, the country hopes to achieve technological autonomy and enhance competitiveness in the AI field and get rid of the dependence on imported AI tools from other countries.

It is reported that the proposed investment plan is expected to provide resources for public health, agriculture, environment, business and education and other departments' immediate measures. Many of these measures include developing AI systems to promote consumer services and other operational procedures.

According to the Brazilian government, the 4.07 billion US dollars for the AI investment plan will be disbursed from 2024 to 2028. Among them, nearly 14 billion reais (currently about 18.04 billion yuan) will be used for business innovation projects, and more than 5 billion reais (currently about 6.443 billion yuan) will be invested in AI infrastructure and development. It is expected that the rest of the resources will be used for training programs, improving public services, supporting AI regulatory measures and the aforementioned immediate plan.