Industrialist Hannes Androsch believes that the future of AI will have a major impact on all aspects of life, and that it’s important to prepare for its effects. While he acknowledges that there is currently a lot of excitement about the topic, he cautions against overestimating its importance.
Androsch also points out that Europe, including Austria, is behind the Americans and Chinese in terms of research and training in AI. He emphasizes the need for more investment in these areas in order to catch up with global leaders.
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 NXAI 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 the importance of basic research in the digital world and how it is now closer to actual applications with rapid development and mass market success of AI models. He urges Austria to adapt to the pace of advancements in the field.
Androsch criticizes current economic policy in Austria for spending funds and subsidies on structural maintenance rather than promoting innovation. He expresses skepticism about any near-term improvement and believes that political statements regarding elections do not address this issue.
In conclusion, it is 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.