First Momentum Ventures’ Post

“German Mittelstand” is light years away from AI, according to recent articles in German Computer Weekly and CIO Magazine. https://lnkd.in/eHbjWmui Shadow AI instead of a real AI strategy is - according to a study by consulting firm Planet Industrial Excellence - the devastating verdict on the future orientation of our very important German Mittelstand. But it's not just the AI deficiencies that they diagnose: They also find ERP installations that are more than 20 years old, or data protection and cyber security are also not optimal. In almost every company, there are individual employees who use ChatGPT / Aleph Alpha & Co to make THEIR OWN work easier, regardless of the company strategy. Up to this point I fully agree, but I don't believe that the lack of financial resources is the main driving force, as they claim. Why? AI usage and implementation is - thanks to numerous free/cheap tools - not an issue at all. We have been using it for years. Data is mostly available and, fortunately, AI does not usually require upgrades to existing IT systems as it can be embedded or run "side by side”. In our simple view, passion for one's own business and openness to real innovations are much more important. Playing "innovation theater" or using AI (esp. ChatGPT) to improve the existing situation (a little) is not sufficient. There is need to create true innovations or even disruptions. This is difficult to understand & frustrating because many "Mittelstaendler" in particular have their own past innovations/disruptions as their starting point. We at ABRAMS world trade wiki, Coveritas, Modelyzr GmbH, PATEV Associates GmbH and Synomic are currently learning a lot by using AI now in M&A and Corporate Development. Thank you to our friends Dr. Karl-Michael Popp, Till Brennan, Jürgen Beckers and at EY, IPP Process Playbook GmbH, mandaco, Next Monday Ventures, SAP, Tricentis for feedback and encouraging our journey. #ai #chatgpt #sapfamily #startup #innovation

Bernd Engist discussed 'Artificial Intelligence for Software Providers – Opportunities and Risks' or 'Künstliche Intelligenz für Softwareanbieter – Chancen und Risiken' This article explores the transformative role of Artificial Intelligence (AI) in software development. It highlights the vast opportunities and inherent risks associated with AI for software providers. AI surpasses previous technological revolutions by impacting all life and work areas without restrictions. For software vendors, AI opens up possibilities for significant productivity improvements, enhanced product quality, and creating entirely new AI-based products. The article discusses the critical aspects of responsible AI usage and balancing automation with human oversight, emphasising the need for companies to engage proactively with AI to stay competitive and relevant. #AI #software #future #news #genai You can read more about this in-depth analysis here.

Discover the endless possibilities of AI in diverse industries, from automotive to supply chain, with Lufthansa Industry Solutions' enlightening whitepaper on AI as a Service (AIaaS). Gain insights on how AI tools redefine demand forecasts and industrial maintenance, and how AIaaS can help overcome expertise gaps and data complexity hurdles. With flexible and scalable AI systems, enjoy the benefits of no infrastructure woes and costs aligned with actual usage. Explore Lufthansa Industry Solutions' AI services panorama, including CustomerFeedback AI and VisitorPrediction AI. #ArtificialIntelligence #AIApplications #AIProjects #AIExpertise #LHINDservices 🌐💡

The use of generative artificial intelligence is in vogue. The experts at IT consultant Lufthansa Industry Solutions explain what companies need to make smart AI assistants successful. #genai #artificalintelligence #chatbot #lufthansaindustrysolutions #lhind

I’m proud to share more insightful media coverage after our Enreach DE #OpenAir2024 partner event event. This piece by Waltraud Ritzer for Telecom Handel dives into our theme of how AI is transforming business communications. In my conversation with Waltraud, I highlighted the significant potential of AI to improve our customers' business processes and provide our partners with intelligent solutions that add real value. However, we're still a long way from widespread adoption of #AI solutions, so it's vital for us at Enreach to help our partners and customers understand how fundamental the changes that AI will bring will be - and to enable them to stay ahead of the curve and develop the right solutions to take advantage of these developments. At the German partner event, we showcased our AI-powered solutions and explained the depths of our Enreach AI platform, with which we aim to democratize AI and bring cutting-edge #ConversationalAI tools to our partners and their customers. For our German-speaking followers, read the full article to get all the details here:

Merck CEO Belén Garijo recently stated: “None of us competes against AI. We compete against the people who will use AI better than us.” 𝐀𝐜𝐭𝐢𝐨𝐧 𝐌𝐞𝐞𝐭𝐬 𝐕𝐢𝐬𝐢𝐨𝐧: Merck takes a bold step, empowering 63,000 employees with access to an AI assistant. 𝐈𝐦𝐩𝐚𝐜𝐭𝐟𝐮𝐥 𝐎𝐮𝐭𝐜𝐨𝐦𝐞𝐬 𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠: ✔️ Target audiences identified 10x faster ✔️ Email outreach 4x quicker ✔️ Email open rates up by 40% 𝐓𝐡𝐞 𝐂𝐨𝐫𝐞 𝐌𝐞𝐬𝐬𝐚𝐠𝐞: Integrating AI doesn’t mean replacing human effort but enhancing productivity and innovation. How can we leverage AI to not only keep pace but lead in our respective fields? #AI #Innovation #Productivity #Merck #DigitalTransformation ¦ Deloitte

Around 17 per cent of all companies in Germany are using AI applications. This headline surprised me, especially when taking a closer look, you realize that the topic of AI is not yet so much of a focus in the service sector and particularly in small and medium-sized enterprises. Small and medium-sized enterprises in Germany face particular challenges when it comes to the introduction of AI applications. Concerns about the costs and complexity of AI applications as well as a general lack of awareness are significant obstacles. However, the use of AI in SMEs is gradually gaining momentum, because AI applications can help SMEs improve their production processes, reduce costs, and enhance customer experience. What are your experiences with AI applications in your company? #ai #aitools #aibusiness #aiindeutschland Source: IW Consult

Insightful stats: According to the Study Digital Workflows 2023, approximately 74% of companies fully or partially agree with the notion that AI can enhance work processes and increase efficiency. At present, the most crucial applications of AI in automating service processes are ticket avoidance and self-service bots. For more information, visit this link: : https://buff.ly/3QzXGAq #AI #ITSM #serviceprocess

My view on the Future of AI in 2024.    "AI technology will continue to shape the upcoming year. The biggest mistake is to think that it's just a hype that will be over tomorrow. AI will still be here the day after tomorrow!” 🗯    First lesson math, second lesson English, third lesson Artificial Intelligence? If it were up to me, timetables in German schools might look like that very soon. Why? Because we should create a fundamental understanding of the technology that will change this decade the most – and that in all areas of life: #AI.    In an interview with the German magazine DUP UNTERNEHMER, I had the opportunity to share my vision of the future and elaborate on what, in my opinion, is needed to harness the fantastic possibilities of the AI world (see the link for the full article in German 👇):   ▶️ A greater understanding of the technology in key positions - especially among decision-makers and managers ▶️ More knowledge about the practical prerequisites (especially the interaction of data, machine learning, and human expertise). ▶️ A bit more ease in dealing with new technologies – especially in Europe.    In my opinion, not only the next generation should gain more experience. I consider small, delimited flagship projects to be an ideal resolution for 2024. My suggestion: Choose an aspect in your company that you want to improve and tackle it with the help of AI.    At Körber, we have integrated AI into our customer products and solutions such as FactoryPal, InspectifAI and vaibe from the very beginning. We will continue this commitment to the integration of AI in 2024.    What will be your (AI) flagship project in 2024?    #ArtificialIntelligence #data #SaaS #machinelearning 

AI is ready for the machine room. We see #AI being deployed at scale across the #manufacturing industry in Germany. And AI has already proven its business case and potential. Visit us at #HM24 (hall 17, booth G06) to see great examples from the industry. Florian Deter also describes the status and the potential of AI for Germany and our competitiveness in this article: https://lnkd.in/de4dqX2J #Microsoft #Hannovermesse