• Mon. Feb 26th, 2024

Catching Up: The Urgent Need for AI Investment and Policy Changes in Austria


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

In the near future, artificial intelligence is expected to have a significant impact on all aspects of life, according to industrialist Hannes Androsch. While he believes that the current excitement about the topic may be overstated, it is crucial for us to prepare for its influence. Androsch notes that Europe, including Austria, lags behind the Americans and Chinese in terms of AI research and training. He emphasizes the need for great efforts in these areas to catch up with global leaders.

Androsch also criticizes the lack of support for schools and research spending in Austria. He points out that the funding process for research in Austria is slow, which puts them at a disadvantage in the fast-moving field of AI. Private investors, such as the co-founders of NXAI, have been investing in basic research, which Androsch sees as unique in Europe. However, he calls for a more future-promoting economic policy that supports innovations and technologies such as AI, microelectronics, and biotechnology.

Clemens Wasner, a member of AI Austria, stresses that basic research in the digital world is no longer far removed from actual applications. He cites the rapid development and mass market success of AI models as evidence of this trend and urges Austria to adapt and wake up to the pace of advancements in the field.

Androsch also critiques Austria’s current economic policy, arguing that funds and subsidies are being spent on structural maintenance rather than promoting innovation. He expresses skepticism about any near-term improvements and believes that political statements regarding elections do not address this issue.

In conclusion, it is clear that significant improvements are needed in research, training

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