There is a common expression, especially among new immigrants, that Israel is always 40 years behind the rest of the world. However, that was never the case with hi-tech.
Midreshet Ben-Gurion initiated a concerted national effort to enhance Israel’s competitive advantage in Artificial Intelligence on Wednesday.
Dubbed “The Institute,” this initiative is a game-changer. It offers customized training programs designed for corporate executives, intending to equip them with the necessary tools to navigate AI’s transformative impacts on the business landscape.
The initiative will catalyze Israel’s leadership in implementing artificial intelligence capabilities in four primary industries: cyber, health and medicine, finance, and education.
Jerusalem Post correspondent Eve Young reported from the launch event.
Interviews, speeches, and panels all addressed the importance of Israel stepping up to the plate, so to speak, when entering the world of artificial intelligence.
AI wizz Yoav Shoham, speaking at The Institute, said that there have been relatively few actual deployments of AI technology by companies in Israel thus far, and people don’t yet know enough about AI or understand how it can decrease their costs.
The slow but steady rise of AI?
He predicted that the use of AI will be far more integrated by the end of the year.
Israel is a start-up nation, and our hi-tech industry must get on top of this trend, pronto, before we are left behind in the dust.
“The reason countries do not boycott us is because of our human capital, the hi-tech and the financial connections that they do not want to lose,” President Isaac Herzog said at the launch of The Institute – and he was right.
At The Jerusalem Post’s annual Women Leaders Summit, Innovation, Science, and Technology Minister Gila Gamliel said she aims to make Israel a leader in AI.
She said her goal was to “put Israel at the forefront of research and development in artificial intelligence and advanced technologies.”
But so far, there has been much talk and not much action surrounding AI. Of course, Israeli companies like AI21 are integrating and moving forward fast, but they are rare exceptions.
In January, a report by Salesforce found that 93% of Israeli business leaders are deeply apprehensive about potentially missing out on the benefits of AI advancements.
On the other hand, Israeli individuals have been quick to try AI. A September Salesforce survey found that 49% of respondents had embraced generative AI in less than a year.
Still, the Israeli tech scene needs to maintain its standing on the global stage. If we lag in AI, we lag in all the rest. After all, Israel saw a significant dip in investments in its hi-tech sector throughout the past two years. Active Israeli funds dropped by a third between 2022 and 2023, and foreign ones decreased by over 40%.
If the Israeli economy wishes to continue to thrive, its unlimited pool of talented computer scientists, engineers, and mathematicians must leverage its capabilities to drive AI innovation in the country.
That is not an easy feat, to be sure; after all, the industry is populated mainly by young men who, throughout the past seven months, have drafted in waves into reserve service in the IDF amid the Israel-Hamas war.
That being said, the government and its various authorities must find a way to support these companies in continuing to advance despite and due to this setback.
“Despite” because the war is setting us back – “due to” because we need to succeed to overcome, and our hi-tech industry is where to push. After all, the industry brings in an incomparable amount of international collaborations and partnerships, and we need to foster those relationships to survive on the other side of this war.
Israel continues to be a start-up nation, but now, its start-up industry needs the state’s support. While this may seem like a setback, it is an investment. Israel’s economic and reputational future depends on this success.