The AI innovation imperative

The upcoming AI era calls for new ways of thinking about innovative businesses. Creating and scaling innovative digital businesses is crucial for closing Europe’s innovation and competitiveness gap.

An Implement Consulting Group study commissioned by Google examines the potential of successfully scaling more innovative digital businesses in Finland to foster economic growth and capture the AI opportunity.

Key findings of the study

• Job creation and economic growth: If Finland can scale and retain innovative digital businesses to match leading OECD countries, the economy could add up to 13,000 high-value jobs. This would boost overall productivity and contribute around EUR 1.2 billion annually to the economy.
• Innovation spillovers: Innovative digital businesses are key to capturing the benefits of AI, not just in tech sectors but across the entire economy. By leading in the adoption and development of AI, these companies can inspire and enable other businesses to adopt AI, creating a ripple effect that enhances productivity and competitiveness.

Finland has robust conditions for growing innovative digital businesses. However, to fully unlock the potential of AI-driven innovation, it is essential to build an AI-ready workforce, invest in AI infrastructure and computational power, accelerate innovation through AI and establish conducive and aligned AI regulations.