Microsoft is launching an AI innovation hub in Portugal

Written By Manuel Poças

Microsoft announced that it will launch an AI hub called the AI Innovation Factory, in Portugal, in partnership with Accenture, Avanade, and Unicorn Factory Lisboa, with the objective of accelerating businesses’ adoption of AI solutions.

The factory will be integrated within Unicorn Factory’s AI Hub, in Alvalade, Lisbon, and its goal is to foster innovation by leveraging AI and accelerating the increase of its application by public and private companies.

With an inauguration projected for November this year, the AI innovation factory will work across all sectors and contribute to the sustainable development of the country by creating and applying systems that rely on emerging technologies.

Until the inauguration date, the AI innovation factory’s program will start rolling within the headquarters of Microsoft and the remaining partners, in Lisbon. It will provide companies with a platform for enhanced inspiration and idealization, where they can access real use cases and try on approved design thinking methodologies.

According to a study by Microsoft and the consultancy firm IDC, 62% of Portuguese companies already use AI, and 25% of those who do not, hope to implement it in the near future.

Note that the data of the study come from more than 2,000 company leaders and decision-makers from around the world.

Currently, the three most applied use cases in Portugal are advanced data analytics, chatbots, and project optimization.

40% of Portuguese organizations (public and private) use public cloud platforms for experimentation, development, and testing of AI, and 26% use public cloud platforms during the entire cycle of implementing an AI solution.

36% of Portuguese organizations (public and private) already have an overseeing governance body responsible for supervising and managing the AI, and 77% affirm that it is very important that AI providers have a responsible AI strategy in place.

Companies are anxious to start developing and applying AI solutions. 67% of those who were interviewed already utilize AI tools in their organizations and 21% plan on doing it in the upcoming months.

The companies that have already implemented AI solutions are obtaining a return on investment (ROI) within 14 months, and for every 0.91 euros they spend, they get 3.06 euros back.

Notwithstanding, the lack of qualified professionals is hindering the possibility of accelerating the AI adoption process of 54% of Portuguese companies.

Stay up to date
Subscribe To Portugal.com's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.
Join our FB group Portugal Travel & Living for all things Portugal and news updates

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Follow Us

405FansLike
297FollowersFollow
159FollowersFollow

Most Popular

Time required to get Portuguese citizenship reduced by 12-18 months

Portuguese residents waiting to apply for citizenship can now breathe a huge sigh of relief! The Portuguese Parliament passed significant amendments on March 5th...

Spain vs Portugal: Which Golden Visa Program is Best?

There has been a lot of talk of Golden Visa schemes over the last few years. Each scheme has different rules and varying levels...

Life After NHR: Latest 2024 Update

Well, there is no doubt that 2023 was a rocky year in Portugal’s rich political history. The year saw changes to the very popular...

Latest Articles