Merkel warns of AI brain drain to foreign tech companies

Private companies are after market monopolies, German chancellor says. BERLIN -- Germany is at risk of losing its best experts on artificial intelligence to the world's private tech giants, Chancellor Angela Merkel warned Wednesday. "The big internet companies are really trying to get a market monopoly here," Merkel said during a panel discussion when asked what she has identified as some of the most pressing digital policy issues since taking office for a fourth term about three months ago. At the same time, the country's "startups still don't have enough ways to get funding when they get bigger and there's always a danger that they're snapped up from abroad," Merkel added. Earlier this week, Germany's leading artificial intelligence (AI) startups warned in a report that the country is falling behind in the research of artificial intelligence while at the same time, a lack of public and private investment is holding back the development of cutting-edge AI applications.