Artificial intelligence (A.I.) has become a popular technology which is widely applicable in the business world. Data and A.I. have completely transformed work operations through getting real-time market analysis, offering virtual assistance and even finding alternate supply chains.
Every European nation, including Germany, has witnessed a shift in the business landscape due to the rapid development of technology and increased digitalisation. The impact of A.I. is so extensive in Germany that nearly 23% of its industrial companies use A.I. as per the current Industry 4.0 practices, according to Statista.
Artificial intelligence along with data is already creating waves of change in various German industries leading to better operational strategies, advanced capabilities and reshaping the way business leaders think. These changes will further accelerate in 2022 bringing a collective shift in the German business landscape.
Germany’s position in the global A.I. market
Data-driven decisions have become a fundamental part of every business as they bring substantial, real-time information. By using A.I., data can be used for predicting the market, new trends and even understanding consumer behaviour. In the past few years, there has been a vast change in German business models as every organisation, ranging from brands to emerging firms, have adopted A.I.
The impact of A.I is so vast that PwC research has predicted that this technology will boost Germany’s GDP by 11.3% which will generate a revenue of €430 billion by 2030. Therefore, Germany is a leading nation in terms of A.I. and machine learning, becoming Europe’s largest economy with a thriving A.I. market that influences industries like healthcare and energy.
A.I., data and Silicon Valley shaping business growth in Germany
Germany has always been a global leader in technology and believes in pushing the boundaries further. That’s why, instead of being limited to just applying A.I. to business models, it is devising ways to use the technology for ground-breaking results.
Popular German brands like BMW, Porsche and Bosch have their own state-of the-art technical university for research and experimental purposes. The country is further working on designing a model that replicates the famous Silicon Valley.
This initiative has brought together German business leaders and top research universities in a collaboration where newer and advanced capabilities of A.I. technology will be worked on. Termed the Cyber Valley initiative, this ambitious project began in 2016, supported by a consortium of European universities in south-western Germany.
How Cyber Valley will transform A.I.
Cyber Valley is Germany’s effort to bring a technological change that will drive businesses locally and globally and already has partners from various sectors, including academics, science, government and business. In a short span of five years, this initiative has provided a wealth of knowledge in machine learning and A.I., more than any other country in Europe.
Researchers at Cyber Valley are continuously striving to find ways to put A.I. technology in effect on a wider scale. This includes using data and A.I. to connect with society and even elevate their way of life. These researchers are not just from academia, but also from start-up companies which bring science and business together to make a powerful collaboration. Cyber Valley is witnessing a growing number of start-ups and is pulling in young computer scientists and various other professionals.
Business growth with data and A.I.
The German government is focused on creating a technologically conducive environment that supports A.I. and allows entrepreneurs to work on new business ideas.
Germany has various A.I.-focused researchers such as DFKI (Das Deutsche Forschungszentrum für Künstliche Intelligenz GmbH) and Intelligent Analysis and Information Systems (IAIS). This research is being carried out to better understand market forecasts, growth rate and more. Such insights can be a great asset for German organisations that can use data efficiently and can apply results into building better business models.
The use of A.I. and data are vast, and businesses are still exploring their complete potential. The BSBI scientific journal, which is a collaborative effort between researchers and students, carries out case studies on how big data is being used for sentimental analysis and the ways in which e-commerce uses machine learning for customer retention.
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