Germany is serious about its investment in artificial intelligence and is bolstering 2019 funds, originally set at around 140 million euros, available by a cool 500 million euros. A similar investment is foreseen for 2020.
“With AI, we have to be quicker in getting from research to application,” said German Minister for the Economy and Energy Peter Altmaier. “ It’s crucial that small- and medium-sized enterprises use and apply AI.”
230 million euros are earmarked for the practical application of AI, while 190 million will go into research and 50 million into social dialogue and predicting the consequences of the technology.
“The addition funds represent a quantum leap in the German government’s engagement with AI,” says Germany Trade & Invest CEO Robert Herrmann. “And that opens up opportunities for business and investment.”