Inside GenAI: Trust and Transparency in Swiss Tech

Good governance is the cornerstone of ethical AI. Ranking third in global GenAI impact, Switzerland’s innovation-rich environment has an opportunity to set the gold standard of trust and transparency on the global stage.

From safeguarding users to data accuracy, we’re at a crossroads in GenAI development, and familiar challenges persist. Swiss tech hubs are reinforced by a world-class talent pool and several robust initiatives aimed at encouraging collaboration.

Having obtained both cantonal and SECO licensure to recruit across the Swiss market, the team at DeepRec.ai have the means to support those hoping to expand their operations in Switzerland. Here are some key insights into the shape of the current GenAI landscape.

Investment

According to Accenture, GenAI stands to boost Switzerland’s economy by CHF 92 billion by 2030, citing the nation’s people-centric approach as a key differentiator.  

The appetite for GenAI may be strong, but Swiss business leaders have shown concerns about the lack of official regulatory direction from the government –  according to Deloitte, 22% of Swiss leaders are confused about GenAI, and 86% of Swiss leaders plan to increase investment (either significantly or somewhat) in the next year.

Despite the global funding slump, GenAI investment is high on the agenda:

Swisscom invested $116 million into an Nvidia-based AI strategy earlier this year, part of a pledge to build full stack GenAI supercomputers.

Lakera, a Zurich-based GenAI security company, raised €18.4 million in a series A funding round, bringing its total funding to €30 million.

Mimic is making its mark in the global robotics race, securing €2.5 million in pre-seed funding.

Regulation

First launched on September 2nd, 2019, the SDI has since undergone several developments aimed at promoting ethical standards of AI on an international scale.

The Digital Trust Label (the first of its kind) is a key part of this initiative, a type of certification allocated to digital applications that meet a high standard of security, data protection, reliability, and fair user interaction. UNICEF, Credit Suisse, and Cisco are among those that currently hold the label. This label recently expanded to AI.

That said, questions have been asked about Switzerland’s regulatory readiness, chiefly down to a lack of AI-focused policies. While the EU AI Act falls on the other side of the scale, it’s been met with its share of criticism for incompleteness, uncertainty, and high compliance costs. Switzerland’s Federal Council are currently examining new approaches to AI regulation, and it intends to release a concrete mandate by 2025 (The Federal Council).

Collaboration

Switzerland’s world-leading research institutes foster a neat connection with the private sector, where several initiatives encourage close collaboration.

Academia/industry partnerships, aka PPS (Public Private Partnerships), create innovation hubs across the nation, creating access to a new generation of talent in the process. This commitment to collaboration extends beyond Swiss borders too – 26 collaborative projects between the UK and Switzerland have been announced this year, backed by £7.8 million funding from Innovate UK, and CHF 9.1 million from Innosuise.

Talent

Switzerland, despite its access to a world-class talent pool, is not immune from the broader skill shortages affecting the global GenAI landscape.

Industry progress depends on the ability to overcome these shortages, representing a unique opportunity for leaders to benefit from specialised recruiters.

The demand for GenAI will not slow down any time soon. Innovators must have access to the right talent if they hope to lead the way. Learn more about our community-led recruitment methodology here: https://www.deeprec.ai/we-are-deeprec.ai.