How AI is revolutionising start-ups in Germany

Artificial intelligence (AI) is currently revolutionising much of the global economy. This can also be seen in the increasing number of AI-related start-ups. This is the conclusion of a study conducted by the Leibniz Centre for European Economic Research (ZEW) with the participation of ISTARI.AI.

The basis for the study was a representative survey of start-ups founded between 2011 and 2021 for which the development of AI technologies and applications represents a central part of their business model. Data from webAI was also an important part of the analysis. Our “Artificial Intelligence” agent was used to quantify the importance of the technology for the respective companies.

Despite the high importance AI plays for start-ups in Germany at the moment, the study was able to demonstrate a shortage of skilled workers that is slowing down their growth. For example, about a third of all AI start-ups were unable to fill their open positions. Nevertheless, newly founded companies in the field of AI often generate revenue very quickly, on average even in the first year of operation.