Brazil proposes $4 billion AI investment plan

SAO PAULO (Reuters) - Brazil's government unveiled on Tuesday a 23 billion reais ($4.07 billion) proposal for an artificial intelligence (AI) investment plan aimed at developing sustainable and socially-oriented technologies.

WHY IT'S IMPORTANT

Brazil, the largest economy in Latin America, wants to achieve technological autonomy and competitiveness in the AI sector, aiming for what it called "national sovereignty" instead of a reliance on imported AI tools from other countries.

The proposed investment plan foresees resources for "immediate impact initiatives" in sectors such as public health, agriculture, environment, business and education.

Many of those initiatives include the development of AI systems to facilitate costumer service and other operational procedures, a government presentation showed.

BY THE NUMBERS

The 23.03 billion reais proposed for the AI investment plan will be disbursed from 2024 to 2028, according to the Brazilian government.

Nearly 14 billion reais will go towards business innovation projects over the next four years, while more than 5 billion will be invested in AI infrastructure and development, it said.

The remainder of the estimated resources will be divided among training initiatives, public service improvements and support measures for AI regulation, as well as the so-called immediate impact initiatives.

KEY QUOTES

"Instead of waiting for AI to come from China, the U.S., South Korea, Japan, why not have our own?" Brazilian President Luiz Inacio Lula da Silva said on Tuesday as the proposed investment plan was presented.

"Our artificial intelligence needs to be intelligent, it needs to be a source of income and employment," the leftist leader added.

($1 = 5.6531 reais)

(Reporting by Luana Maria Benedito; Editing by Paul Simao)