Germany to invest three billion Euro in AI
We want to promote the use of AI applications in business.
According Reuters this week, a German government paper has outlined a large investment in Artificial Intelligence, promising to try and bridge the gap they see with other major economies in AI. Chancellor Angela Merkel comments:
Germany can’t say that it is a world leader in artificial intelligence.
So our aim is for ‘Made in Germany’ to be a brand in artificial intelligence as well.
Part of lagging behind in digital development has been blamed on nine straight years of economic growth with firms tied up with ‘meeting orders rather than investing time in the future’. Part of the plan is to appoint 100 new university professors in AI to improve the education of younger generations.
There are some German early adopters already. Our software platform is one of only two companies worldwide to feature on the CB Insights market map for AI in fintech for debt collection.
collectAI recently announced a successful case study with German subsidiary of Société Générale – Hanseatic Bank. Other early adopters of AI for receivables in Germany through collectAI include several utility companies and many retailers.
Momentum for applications of AI in business is gathering in Germany. The government pledging the large budget of three billion Euros to accelerate this process will certainly help.