COMMON VALUES | Nordic countries share similar history, values, regulatory systems, and business approaches. The Nordics also has a common goal to become the most sustainable and integrated region in the world (Nordic Innovation). Enabling a cross-border ecosystem can enable businesses in the Nordics to expand into new markets quicker and draw on the experience of their peers. | |||
TRANSPARENT & COLLABORATIVE | The Nordic countries value transparency and collaboration. Our democratic systems rely on transparency as a core principle, and there are many examples of high-degree of transparency of data and information regarding individuals, for example personal security numbers, population registration, and income tax. Nordic businesses can build on this tradition as they increase adoption of AI, and create a competetive advantage in AI by emphasizing on transparency. | |||
INDUSTRY LEADERSHIP | The Nordic business landscape boosts of some of the world’s leading companies in their industry, that have existed for several decades. Naturally, these organizations possess deep expertise about their respective industry. When AI is integrated in their core business processes, having domain expertise in the organization will be critical to validate AI outputs, and ensure effective human oversight which is central to ethical and responsible AI. | |||
AI MATURITY & COMMON CHALLENGES | Digital and AI maturity in the Nordic countries is somewhat equal. Norway, Sweden, Finland and Demark are all ranked among the top 25 globally for investments, innovation, and implementation of AI, only Iceland ranks slightly lower at number 40 (Tortoise Media Global AI Index 2023). Being at the same maturity level means that businesses will face common challenges once they attempt to scale AI. Enabling collaboration and knowledge sharing between these businesses will be beneficial for all. | |||
THRIVING START-UP NETWORK | The Nordics boasts a thriving start-up network with innovative AI products and responsible AI-specific solutions. Creating a joint ecosystem can help increased awareness of and access to Nordic providers of tools, services or platforms that enable operationalization of ethical and responsible AI. The Nordics are also the most impact-focused region globally with 38% of investments going to impact startups compared to 22% for Europe (Dealroom 2023). | |||