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Vera Demary / Henry Goecke IW-Trends No. 4 26. October 2019 Artificial Intelligence: German Companies between Risk and Opportunity

Artificial intelligence (AI) is an important technology for the future, promoting the development not only of completely new products and services but also of innovative business models.

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German Companies between Risk and Opportunity
Vera Demary / Henry Goecke IW-Trends No. 4 26. October 2019

Artificial Intelligence: German Companies between Risk and Opportunity

IW-Trends

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German Economic Institute (IW) German Economic Institute (IW)

Artificial intelligence (AI) is an important technology for the future, promoting the development not only of completely new products and services but also of innovative business models.

A survey conducted in 2019 of 686 companies in manufacturing and related services showed that some 10 per cent of them were already using AI. In many cases they apply the technology not only for initial testing, but also for more advanced purposes, such as complete AI-based products and services. Asked for their assessment of the importance of AI, firms tended to regard AI as a risk for both their own company and their own industry. This was especially true for firms that do not themselves use AI. However, with regard to the importance of AI for Germany and the global economy, the majority of companies surveyed perceived AI as an opportunity. A more comprehensive understanding of the benefits, potential applications and investment needs of AI could remedy this contradiction. In the last two years, companies using AI have invested an average of 1 per cent of their annual turnover in this technology.

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German Companies between Risk and Opportunity
Vera Demary / Henry Goecke IW-Trends No. 4 26. October 2019

Vera Demary / Henry Goecke: Künstliche Intelligenz

IW-Trends

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German Economic Institute (IW) German Economic Institute (IW)

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