Article Part 1: Economic Growth through Artificial Intelligence
In cooperation with Venionaire Capital, DerBrutkasten.com publishes a four-part article series on the subject of artificial intelligence. We are concentrating on the economic aspects of how AI works to the current research and the future of artificial intelligence.
The first part shows the economic growth through artificial intelligence. While most people still associate the terminator with artificial intelligence, it has long become a key technology. Also Austrian Startups in cooperation with the ÖFAI (Austrian Research Institute for Artificial Intelligence) contribute to this growth with Voicebots and Chatbots such as Grape or Yodel.io.
The International Data Corporation sees the US market potential for artificial intelligence in three years at approximately 34 billion euros and the contribution to the economic growth only in Germany will be 1.6%. This is an important argument for investors and caused 2016 investments in the amount of 5 billion Euros. Although there is a clear distance between the USA and Europe, the number of completed deals in Europe is rising. For example the largest financing round in 2017 concluded the German company Kreditech with about 138 billion Euros. The amounts of Austrian startups like FRUX, Kiwi Security or Cortical.io are clearly smaller. Sales will increase enormously between 2016 and 2025 even if there are warnings about the current development for example from Elon Musk.
For the whole article click here.