GABA Award Winners 2024: Petra Vorsteher and Ragnar Kruse

March 15, 2024
GABA News

In a world where predicting the future seems daunting, there are those who focus on actively shaping it instead. GABA News talked with Petra Vorsteher and Ragnar Kruse, recipients of this year’s GABA Award of Excellence, whose journey epitomizes this notion with incredible success.

Back in the early days of online shopping, when Amazon was just a small player from Seattle, Petra and Ragnar recognized the potential of e-commerce. In 1996, they were instrumental in growing Intershop from a startup to a publicly listed company, boasting a market cap of $12 billion. Their entrepreneurial spirit didn’t stop there. In 2005, they founded Smaato in San Francisco, the leading independent Global Mobile Advertising and Real-Time Bidding Exchange in the mobile advertising industry. Smaato serves ads to thousands of app developers and publishers in 230 countries, delivering more than 70 billion ads monthly.

Today, Petra and Ragnar are at the forefront of integrating AI into businesses with their company AI.GROUP, while also contributing to their German hometown-elect Hamburg through initiatives like AI.HAMBURG. With their wealth of experience on both sides of the Atlantic, they serve as an inspiring example of a transatlantic power couple. Their passion for technological progress and sustainable business practices positions them as driving forces in shaping the future of innovation and entrepreneurship.

GABA News:
Petra and Ragnar, congratulations on your award. What drives you as entrepreneurs?

Petra:
The GABA Excellence Award is truly an honor. We were speechless and thrilled beyond belief. Thank you so much. What motivates us? We have a profound passion for innovation and entrepreneurship which led us from e-commerce to mobile and now to AI. Additionally, we’re driven by the opportunity to make a positive impact and difference in people’s lives. Strengthening and fostering US-German friendship and business relations is also very important to us and dear to our hearts.

Ragnar:
I’ve always been fascinated by innovation and technology, throughout my life. The US is undoubtedly the epicenter of technology.

GABA News:
Reflecting on your impressive decade-long career, what would you do differently today?

Petra:
Actually, we’ve discussed this and can’t think of anything, sorry. (Laughs).

GABA News:
Tell us about AI.HAMBURG. What are your goals?

Petra:
We’ve established the AI.GROUP, consisting of the AI.FUND, AI.HAMBURG, and AI.IMPACT, all with the shared goal of integrating AI into businesses and supporting AI startups. Each group has a slightly different focus. The AI.FUND invests in and assists European AI startups, while AI.HAMBURG, a not-for-profit initiative, aims to introduce AI into the economy through startups and creating events, such as the International AI.SUMMIT. AI.IMPACT, our latest venture, is focused on sustainable development and building valuable AI startups.

GABA News:
What are your insights on the future of AI? Where do you see us in 5-10 years?

Ragnar:
We’re living in an incredibly exciting era where AI will revolutionize every industry. ChatGPT has reached mass adoption, enabling businesses to leverage large language models like never before. These models will pave the way for a new wave of software, providing knowledge to billions of smartphone users worldwide and creating immense opportunities for startups. We foresee AI saving millions of lives annually and bridging the global digital divide. It’s akin to a tsunami, and we’ve chosen to embrace it as an opportunity.

GABA News:
Do you share any of the fears surrounding AI?

Petra and Ragnar: (Both simultaneously and without hesitation): No!

Ragnar:
Fear often stems from the unknown, but where some see fear, others see opportunity. As long as humanity retains control and the ability to intervene, there’s little cause for alarm. The potential benefits of leveraging AI far outweigh the risks. While government regulations such as the EU AI Act mitigate risks, we should focus on the vast opportunities AI presents.

Petra:
I echo Ragnar’s sentiment. AI’s potential to enhance every aspect of our lives, from healthcare to predictive maintenance, is immense. It will be everywhere in businesses, revolutionizing various sectors and improving our quality of life.

GABA News:
Apart from AI, what other topics do you consider important for the future?

Petra:
I anticipate exponential developments in healthcare and longevity discoveries that will revolutionize the future of healthcare, as we continuously strive for a better quality of life. Both Ragnar and I are deeply interested in these developments, as they make a difference in people’s lives and help to make the world a better place.