The European Commission needs to invest more in artificial intelligence if it wants to achieve its ambitions and be on a par with the US and China, the European Court of Auditors (ECA) said in a report published today (29 May). The auditors, responsible for vetting EU finances, said that despite developing AI regulation – which will formally enter into force next month – the Commission failed to coordinate with the individual member states on AI policy and to systematically monitor investment. “Going forward, stronger governance and more – and better targeted – public and private investment wi…