"Business models for AI technology remain absent"
Generative AI could potentially be the most significant boost to productivity in recent times. "This is a technology that will revolutionize all sectors just like the internet or electricity," states Nicole Büttner from Merantix in the "Die Stunde Null" podcast. The Berlin-based company invests in startups and aids European companies in developing AI processes. She also discusses the opportunities Europe has in the competition with China and the US, and where the biggest German data repositories reside.
Why is Merantix concerned with AI?
It's a technology that has the potential to transform every industry, so we want to be present during its creation. This allows us to shape the applications and contribute to the debate about how and with what values things are developed.
Are Germany and Europe ready?
We excel in research and development of AI, but we're not yet proficient in commercial applications. This includes developing products and new business models from it. We're attempting to bridge this gap. Our focus is on B2B applications, not consumer-end ones.
What industries are these companies active in?
You can find examples in synthetic biology, specifically developing medications and inventing new materials. For instance, using biologically modeled processes to create substances that are usually derived from oil. These processes can be significantly sped up, making them more sustainable.
Are economists like Daron Acemoglu correct in being skeptical about the massive productivity gains from AI?
I believe productivity is increased through these applications, but not everything that's technically feasible will immediately be implemented. There are several drawbacks. There are also instances where any mistakes caused by the technology are critical, like in production processes or medicine. Due to these risks, we'll still require humans in several tasks for a long time. The technology serves as a copilot, an assistant. However, for truly innovative things, people are still necessary.
Why is that?
The extensive models being developed are all trained using data generated by humans. If we want to create something new, we need people to handle it, as the AI has no understanding of new paths. It cannot create anything that isn't in its knowledge base. It cannot generate an uninvented Da Vinci. Keep in mind that it always requires human input.
Will we, even with our advanced research capability, rely on the US and China?
There are areas where European companies can maintain technological leadership. These include application areas where in-depth knowledge is crucial. In instances where knowledge of production processes or contract evaluation is necessary, these data repositories are not available online. These applications could be a major advantage for European companies. That presents a significant opportunity for Europe.
Tune in to the latest episode of "The Hour Zero," wherein we explore:
· Exactly how AI is being used in businesses
· How technology can accelerate the development of medications
· Why there isn't enough funding for AI in Europe
All episodes can be accessed directly at RTL, Apple, Spotify, or via Google.
Read also:
The Berlin-based company, The Company, invests in startups and aids European companies in developing AI processes, specifically in sectors like synthetic biology and creating more sustainable processes. Despite Germany and Europe's strong research and development in AI, there's a gap in commercial applications and developing new business models, which Merantix aims to bridge, focusing on B2B applications.
Merantix, a German company, recognizes the transformative potential of Artificial Intelligence and wants to be part of its development. They believe that this technology has the potential to revolutionize various industries, allowing them to shape applications and contribute to the debate about its ethical and moral implications.
[Image of Nicole Büttner for reference]
