Finland is set to double down on AI development, committing €15 million to advanced technology-specific research and development projects through state-backed agency Sitra and its Finnish Funding Agency for Innovation, Tekes. The move comes after a recent survey revealed that many Finnish companies are hesitant to adopt AI technology.
The survey, conducted by the Finnish Technology Industries Federation (FTIF), found that while 70% of Finnish companies have already started using AI in some form, many are struggling to implement the technology effectively. Some 40% of respondents cited a lack of expertise and 30% noted concerns over data quality as major barriers to AI adoption.
What’s driving Finland’s AI push?
Finland’s government has long recognized the potential of AI to drive innovation and economic growth. The country has established itself as a hub for AI research, with institutions like the Aalto University and the University of Helsinki boasting world-class research programs.
As part of its bid to boost AI adoption, the Finnish government will also be investing in digital skills training programs. These will aim to equip 100,000 Finns with AI-related skills by 2025, helping to address the country’s growing talent gap in the sector.
Will Finland’s AI push pay off?
Finland’s decision to ramp up AI investment comes as other European countries start to make significant strides in the field. Germany, for example, has committed to spending €2 billion on AI research over the next five years.
While the Finnish government’s initiative may not be the only factor in driving AI adoption, it’s likely to have a significant impact. By addressing the skills gap and providing support for businesses looking to implement AI, Finland is well-placed to maintain its position at the forefront of AI research.
What this means
For Finnish businesses, the government’s AI push means increased access to funding and expertise. This, in turn, should help overcome some of the key barriers to AI adoption, like a lack of expertise and concerns over data quality.
The government’s initiative also sends a strong message to the private sector: AI is a key area of focus, and businesses that fail to adapt risk being left behind. With this increased emphasis on AI, Finnish companies will need to be prepared to invest in digital transformation and upskill their workforces if they’re to remain competitive.
