Bosch Seeks Tax Relief Boosts Innovation

Bosch Seeks Tax Relief Boosts Innovation

Germany’s technological advancement risks being stifled by a pervasive culture of risk aversion and a growing desire to halt progress, according to a new study commissioned by industrial giant Bosch. The Bosch Tech Compass, surveying over 11,000 people across seven nations, reveals a stark disconnect between Germany’s ambition for innovation and its underlying societal attitudes.

Bosch CEO Stefan Hartung has publicly urged a shift in Germany’s approach, stating that the country needs to cultivate “more courage to take risks”. The study’s findings paint a troubling picture: nearly half (47%) of German respondents believe technological progress should be slowed until its consequences are fully understood. This contrasts sharply with sentiments in other countries, highlighting a uniquely German hesitancy towards technological disruption.

The survey exposes a profound skepticism concerning technology’s overall benefit. While 59% of Germans believe technological advancement makes the world a better place, this figure is the second lowest among the nations surveyed, trailing only France. This lack of public confidence, Hartung argues, demands a concerted effort to boost societal acceptance of innovation.

Underlying this hesitancy are significant concerns regarding the conditions for innovation within Germany itself. A mere 30% of German respondents believe the current education system fosters innovative thinking. Moreover, only 23% feel that existing regulations successfully promote innovation, showcasing a critical failure to provide an environment conducive to technological growth. Alarmingly, just 40% of Germans feel prepared for the age of Artificial Intelligence, ranking the country last amongst participating nations despite a widespread belief (77%) that AI will become the most influential technology in the coming years.

The data exposes a reluctance to embrace even the most futuristic possibilities. A mere 19% of Germans expressed willingness to inhabit another planet, should such a feat become technically achievable – a figure dwarfed by the enthusiasm seen in India (66%) and China (50%). Similarly, connectivity with the internet via direct brain interface elicits underwhelming support, with only 13% of Germans open to the concept, the lowest score in the study. Concerns over data privacy persist, with only 28% comfortable sharing personal health information in exchange for preventative care.

The Bosch Tech Compass, compiled by the Society for Innovative Market Research, signals a potential crisis for Germany’s position in the global technological landscape. While policymakers champion innovation, a deeply ingrained cultural aversion and a flawed regulatory environment threaten to undermine these efforts. Calls for tax relief for investments in new technologies, increased agility and a reduction in bureaucratic hurdles are now amplified by the urgent need to address this fundamental disconnect between ambition and acceptance within German society. The findings suggest that fostering a more risk-tolerant environment is no longer merely desirable; it is essential for Germany’s future economic competitiveness and leadership.