Oireachtas Joint and Select Committees

Tuesday, 8 July 2025

Joint Oireachtas Committee on Artificial Intelligence

Introduction to Artificial Intelligence: Discussion (Resumed)

2:00 am

Photo of Naoise Ó CearúilNaoise Ó Cearúil (Kildare North, Fianna Fail)

That was not from the Minister of State.

The follow-up I have relates to innovation. One concern that has been shared here is the potential for job losses across various sectors. One of those sectors that a lot of people have not been speaking about is the technological sector where a lot of the AI emanates from. My fear is that there will be a brain drain. We have attracted top talent to this country to work in our tech industry. A lot of Irish people have come through second level and third level education and are working in that same industry. Enterprise Ireland has previously mentioned a scale enterprise fund that . There has not been a firm commitment from the Government or the Minister of State's Department. However, another policy position I have written is on securing a quarter of that. It is proposed that it will be €400 million for a scale enterprise fund. It would be great to see €50 million or €100 million centred around AI companies and Irish AI innovation. If we look at the Draghi report, what is crucial from a competitiveness point of view is that we create AI companies and companies within our own country.

Would the Minister of State be supportive of a scale enterprise fund for Enterprise Ireland? Would she be supportive of ring-fencing a quarter of that funding for AI first companies?

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