Germany has recently announced an ambitious plan to inject nearly a billion euros into AI research over the next two years in order to assert its position in the global AI arena, Reuters tells us in a report.
The country's aspirations have been sparked by the desire to compete with AI powerhouses China and the United States, whose dominance in the field has been hard to ignore.
Germany's AI Push
Announced by research minister Bettina Stark-Watzinger on Wednesday, Germany's plan aims to transform its AI landscape by bolstering funding and infrastructure for groundbreaking research endeavors.
While the funding may seem modest compared to the staggering $3.3 billion spent by the U.S. government on AI research in 2022, it signifies a resolute commitment to establishing a strong foothold in the ever-evolving field of artificial intelligence.
A Closer Look
Reuters also reports that the comprehensive plan includes the creation of 150 state-of-the-art AI research laboratories within universities, the expansion of data centers, and the democratization of complex public datasets, which are essential for AI breakthroughs.
Private AI spending in the U.S. stands at an astonishing $47.4 billion in 2022, dwarfing Europe's total investment and far outstripping China's $13.4 billion.
However, Stark-Watzinger remains optimistic about the nation's competitive edge. She cites Europe's unique regulatory framework, prioritizing privacy and personal safety, as an attractive proposition for potential AI players. "We have AI that is explainable, trustworthy, and transparent. That's a competitive advantage," she asserted.
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Interestingly, simplified regulations are also expected to foster increased private research spending, creating a symbiotic relationship between public and private sectors in Germany's AI journey.
German AI Startups Getting Funding
While Germany may not be home to tech behemoths akin to those in the U.S., its burgeoning AI startup ecosystem is turning heads. 2023 has witnessed a doubling in the number of AI startups, an impressive feat that has propelled Germany to the global stage.
However, Stark-Watzinger acknowledges that despite this growth, the nation holds the ninth spot in the global AI startup ranking.
Private funding is also flowing into German AI firms, underscoring investor confidence in the nation's potential. Leading the charge is Deepset, an AI company that secured a hefty $30 million in funding.
Other players in the German AI landscape are not lagging behind either. Kern AI recently secured €2.7 million in seed funding to strengthen its position in the market. The company's prowess in capturing commercial clients, including notable names in the insurance and logistics sectors, speaks to the relevance of AI solutions in diverse industries.
In a similar vein, delphai has been making waves with its €4.7 million funding round, which also includes a substantial €900,000 grant from the German government. The company specializes in AI models tailored to understand the complexities of the global business landscape, garnering the support of investors who recognize the transformative potential of its technology.
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