• Fri. Mar 1st, 2024

Breaking Down the Barriers: Europe’s AI Revolution and Austria’s Role in Keeping Up


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

The future of technology is looking bright, with artificial intelligence (AI) expected to have a significant impact on all areas of life in the near future. According to industrialist Hannes Androsch, however, the current excitement about the topic may be exaggerated. He believes it’s important to prepare for its impact and emphasizes that Europe, including Austria, is behind the Americans and Chinese in terms of research and training in AI.

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

Clemens Wasner from AI Austria emphasizes that basic research in the digital world is no longer far removed from actual applications. He points to the rapid development and mass market success of AI models, urging Austria to adapt and wake up to the pace of advancements in the field.

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

In conclusion, it’s clear that there is a need for significant improvements 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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