The AI Action Summit, which runs until February 12, 2025, serves as a platform for discussing the future of AI in Europe.

The initiative aims to enhance the competitiveness of European companies by collaborating with the European Commission and member state governments to establish a streamlined regulatory framework that fosters local innovation and strengthens global leadership.

To support this goal, the initiative anticipates over 20 leading international investors are prepared to invest approximately 150 billion euros in AI opportunities across Europe over the next five years, contingent on a transparent and competitive regulatory environment.

General Catalyst, a venture capital firm, coordinates the 'EU AI Champions Initiative,' which includes over 60 companies.

Notable participants in the initiative include major players such as Airbus, Deutsche Bank, Heineken, L’Oréal, Mercedes-Benz, Mistral AI, SAP, Siemens, and Spotify, all aiming to advance AI technology development.

The initiative's overarching goal is to create a simplified regulatory framework that encourages local innovation and positions Europe as a leader in the global AI landscape.

Virgílio Bento, CEO and founder of Sword Health, underscored the initiative's significance in revitalizing European innovation and improving the societal impact of AI on the quality of life for all Europeans.

On February 10, 2025, during the AI Action Summit in Paris, Sword Health announced its participation in the 'EU AI Champions Initiative,' making it the only Portuguese company in this influential group.

Jeannette zu Fürstenberg of General Catalyst emphasized Europe's potential for a robust AI infrastructure, highlighting its talent, capital, and industrial base.