AI: KölnBusiness launches new initiative in Cologne

Around 80 per cent of all large companies in Cologne (employing over 2,000 people) use artificial intelligence - a figure that puts the city well above the national average of 48 per cent. Through this new campaign, KölnBusiness aims to support startups and small and medium-sized enterprises with digitalisation in this area with the AI funding programme worth EUR 50,000.

Overview

• Around 80 per cent of large companies in Cologne use artificial intelligence
• “net.works KI - Kölner Akteur*innen im Dialog" brings together industry experts from the AI sphere for the first time
• New AI funding programme from KölnBusiness worth EUR 50,000 starts at the beginning of 2024
• More information (only in German)

Whether optimising patient care, making more precise series recommendations or increasing the efficiency of logistics processes - the potential applications of artificial intelligence (AI) are wide-ranging. Examples of the use of AI can be found in companies such as Cologne University Hospital, Mediengruppe RTL Deutschland GmbH and REWE Group. They illustrate how AI can optimise business processes and improve the customer experience. What's more, almost one in ten of Cologne's 700 startups has an AI focus. The majority focus on "data analysis and forecasting" and "speech and text understanding". These results come, among others, from the study compiled by KölnBusiness, which was presented on 13 December at our event "net.works KI - Kölner Akteur*innen im Dialog". 

KölnBusiness launches own AI funding programme of EUR 50,000 

Around 80 experts from business and science came together at the event to discuss developments and potential in the field of AI. Mayor Henriette Reker welcomed the expert exchange as the official kick-off for the AI initiative in Cologne: "In our city, we have impressive AI expertise within our companies and research institutions. It is crucial that the experts network in order to build on this strength. The City of Cologne supports this initiative, because networking here is not only an important step towards strengthening our local economy, but also plays a central role in the social transformation. Artificial intelligence offers us the opportunity to shape sustainable innovations both economically and socially ." 

"Cologne is one of the most innovative locations in Europe and plays a key role in the development of North Rhine-Westphalia as an innovation hub. In order to further strengthen this potential, we at KölnBusiness support startups and companies with their digitalisation plans. To drive this forward, we will be offering our own AI funding programme of EUR 50,000 from spring within our Cologne Framework," says Dr Manfred Janssen, Managing Director of KölnBusiness. KölnBusiness also advises on other funding opportunities and helps with networking with established companies and research institutions. 

NRW has the highest AI value creation potential in Germany 

Jörg Bienert, founding member and Chairman of the Board of the German AI Association, welcomes the initiative: "The use of AI is crucial to ensure the competitiveness of companies in the coming years. In the future, generative artificial intelligence could contribute around 68 billion euros to gross value added in North Rhine-Westphalia alone. This would require its use in at least 50% of companies. Networking and promoting entrepreneurs and AI players in NRW is therefore essential in order to utilise this potential. The City of Cologne's initiative is a very important step in this direction."