Joint Venture: PwC, DEKRA, and the City of Hamburg’s Innovation Fund
Jul 12, 2022
We are more than proud to announce, that together with
City of Hamburg’s Innovation Fund
we intended to launch an international certification provider for Artificial Intelligence called “CertifAI”. CertifAI shall support, test, and certify AI products from development to the final stage. *
The growth potential of the global AI market is enormous. By 2028, the market is expected to increase tenfold and reach a total volume of 150 billion US dollars. As a result, there is a gap in the market for a company that focuses primarily on the security needs of AI technology. CertifAI will is to fill this gap by helping businesses comply with standards and regulatory requirements for AI-based products.
Perfect Partners for Trustworthy AI
This combination of competencies in the field of AI is unique, the spokesperson for PwC Germany’s management and co-responsible for planning the joint venture, Petra Justenhoven summarizes: “DEKRA, as a shareholder in CertifAI, brings many years of expertise in the testing and certification of Cyber Physical Systems (CPS). And we, PwC, contribute our know-how regarding the strategic view of Artificial Intelligence’s opportunities and risks and how these will transform the economy. This is also where our long-standing investment in “Digital Trust in AI” and our role in shaping regulatory issues pays off. The City of Hamburg’s commitment further demonstrates the public interest in trustworthy AI-based products. We look forward to CertifAI launching in the market this winter.”
The focus of the joint venture shall be on a solution and customer-oriented service offering that specializes in the individual testing of AI products and components. At the same time, the company shall help with compliance regarding industry-specific norms & standards, such as those found in the automotive industry, to ensure the safe and trustworthy use of AI. “Current regulations are mostly not yet specific to AI and new ones need to be evolved. Applying these regulations in a practical way is the key for the time-to-market for digital applications and thus innovation,” elaborates Hendrik Reese, partner, and expert in the Trust in AI practice at PwC Germany.
Clear regulatory framework needed for AI safety and quality
Therefore, from the beginning, the company will cooperate closely with the private and public sectors, legislators, and regulators. Stan Zurkiewicz, DEKRA CEO and chairman of the board stresses:
“The AI sector’s regulations, which serve as a vital basis for testing and certification, must keep pace with its rapid development. This is the only way to ensure user safety whilst building and expanding trust in Artificial Intelligence.”
*The planned project is subject to clearance by the anti-trust authorities.