• Sat. Mar 2nd, 2024

The AI Revolution: Catching Up in Europe: A Call to Action by Industrialist Hannes Androsch

ByEditor

Feb 11, 2024
Austria falls significantly behind in the field of artificial intelligence

Hannes Androsch, an industrialist, predicts that artificial intelligence (AI) will have a profound impact on all aspects of life in the near future. While he acknowledges that the excitement around the topic may be overstated, he believes it’s crucial to prepare for its consequences. He also notes that Europe, including Austria, is lagging behind the Americans and Chinese in terms of AI research and training.

To catch up with global leaders, Androsch emphasizes the need for increased efforts in these areas. He criticizes Austria’s lack of support for schools and research spending and points out that the funding process for research in Austria is too slow. Private investors like NXAI co-founders have been investing in basic research, but Androsch calls for a more forward-thinking economic policy that supports innovations and technologies such as AI, microelectronics, and biotechnology.

Clemens Wasner, a member of AI Austria, highlights the importance of adapting to rapid advancements in the digital world. He notes that AI models are already having mass market success and urges Austria to wake up to the pace of change.

Androsch also takes issue with Austria’s current economic policy, which he believes is focused on structural maintenance rather than promoting innovation. He expresses skepticism about any near-term improvements and believes political statements regarding elections do not address this issue.

In conclusion, it’s clear that significant improvements are needed in research, training, and economic policy in Austria if they want to keep up with global advancements in AI and other technological innovations.

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