Factorial announced the AI Acceleration Fund, a €10 million initiative aimed at promoting the digitalization of business operations and the adoption of artificial intelligence by European companies.
The measure is part of the tenth anniversary of the technology of Spanish origin and aims to reduce financial and technical barriers to digital transformation.
The fund responds to evidence that only a minority of companies extract significant value from AI, highlights the technology that officially became a “unicorn” in October 2022.
Studies cited by Factorial point out that generative AI can create massive productivity gains, but that only around 5% of companies capture this value on a large scale, while 60% do not obtain material benefit despite investments. The company warns that the absence of an AI strategy can leave organizations at a competitive disadvantage.
The ten million euros are divided into two equal components: five million in direct cost reductions applied at the time of contracting, and five million in credits for AI tools from the Factorial platform itself. The design seeks, on the one hand, to alleviate the initial cost of implementation and, on the other, to support the expansion of use of AI capabilities over time, he highlights.
The fund is aimed at companies with 20 to 1,000 employees who sign, for the first time, an annual contract with Factorial’s Personal or PRO packages, being available in all European markets until the allocation is exhausted. Applications are automatically processed at the proposal stage for eligible companies, the platform that centralizes and optimizes HR processes for SMEs highlights in a statement.
The initiative focuses on applications in operational areas with direct economic impact, such as human resources, finance, IT, payroll, productivity analysis and strategic planning. In addition to financial support, companies can access training, events and guidance materials to accelerate transformation, assures Factorial.
“The next decade of business performance in Europe will be defined by how effectively companies integrate AI into their operations”, says, in the same document, Jordi Romero, CEO of Factorial. “With this ten million euro investment, we are removing barriers and enabling ambitious companies to accelerate transformation with confidence.”
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