That’s assuming everything would be in time and no budget overflows which is never the case in public funded projects.

I can give you one concrete example. Google for Stuttgart 21. It’s a project to build a main train station in Stuttgart, Germany. The project has been delaying for years. By the time it’s finished it would be 12.5 years overdue its original deadline and so far it has costed 14.5 Billion euros.

One could assume that the biggest economy in Europe can build a train station in no time because how hard could it be? Given the fact that they can’t even do that, I can imagine how it would go with publicly funded cutting edge technological AI endeavour. Even if EU has billions of euros to burn, what they don’t have is time.