Artificial intelligence is set to have a profound impact on all aspects of life in the near future, according to industrialist Hannes Androsch. While there is excitement about the topic, Androsch believes that it’s important to prepare for its potential consequences. He warns that Europe, including Austria, is behind the Americans and Chinese in terms of research and training in AI. In order to keep up with global leaders, he stresses the need for increased efforts in these areas.
Androsch is critical of the lack of support for schools and research spending in Austria. He also notes that the funding process for research in Austria is far too slow, putting 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, 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 current economic policy in Austria, 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 that political statements regarding elections do not address this issue.