Industrialist Hannes Androsch believes that the future of artificial intelligence will have a significant impact on all aspects of life, but he also cautions that the current excitement about the topic may be overblown. Androsch emphasizes the importance of preparing for its effects and highlights Europe’s lack of investment in AI research and training compared to the United States and China.
Androsch is critical of Austria’s schools and research spending, as well as its slow funding process for research, 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 like AI, microelectronics, and biotechnology.
Clemens Wasner, a member of AI Austria, stresses that basic research in the digital world is no longer far removed from real-world 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 Austria’s current economic policy, arguing that funds and subsidies are being spent on structural maintenance rather than promoting innovation. He expresses skepticism about any near-term improvements and believes 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.