Report: AI investments in Romania to double at EUR 50 mln per year

Investments in AI start-ups in Romania will double by 2025, to EUR 50 million per year, from the current level of about EUR 25 mln per year, according to estimates of the consulting firm Horváth & Partners Romania.

Significant investments in Romanian AI start-ups (TypingDNA and Fintech OS) in the last quarter of last year placed Romania in a leading position in Eastern Europe, behind Russia, Poland and Hungary, but ahead of the Czech Republic, Slovenia and Slovakia.

“We are in an advanced stage of digital transformation and we are seeing an accelerated growth in the area of AI-based technology and robotic automation processes, and Romania is gaining more and more speed. AI start-ups on the domestic market had a very good evolution in 2019, especially in the last part of the year. Series A investments worth nearly EUR 20 million in Typing DNA and FintechOS have accelerated the growth of Romania, which is also increasingly appreciated in the global rankings of the countries that have the opportunity to support and benefit from the AI-based technological revolution,” said Kurt Weber, CEO of Horváth & Partners Romania.

On the other hand, AI will significantly influence the labor market, some jobs will disappear while new ones will appear, according to the report.

According to estimates included in the report, between 40% and 50% of existing jobs could be replaced by automation solutions, by 2030. Among the most affected areas could be accounting, marketing, and public relations.

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