Menu
Why do you need AI to create Finland's biggest startup-week?
The impact of artificial intelligence on business, society, and innovation was widely discussed during Slush week, and AI was involved in most of the new innovations presented. Check out our photo collage from startup week and see how FAIR joined the discussion on the role of AI in society and the business world – capturing moments from the week and showcasing the AI revolution in the corporate landscape.
Anna Lunden, 2.12.2024
The a lot anticipated startup week for new innovations and collaborations started with FAIR joining in celebrating the launch of the new Immersive Sustainability Lab by Helsinki XR. The lab offers companies in the Helsinki area a dedicated space at Metropolia’s Arabian campus to test and refine their sustainability-focused innovations. Rooted in Nordic values, the Immersive Sustainability Lab aims to support businesses in developing tech solutions that evolve with their needs.
“Technology can sometimes feel distant or cold if you’re not used to working with it. We want to make tech development accessible to everyone—our test platform is open to any company interested in sustainable innovation!” said Janina Rannikko, Project Manager of the Lab.
This new testing ground will also be part of the upcoming AIStart Incubator project, which will support startups and micro-businesses with training, testing opportunities, and networking. FAIR is proud to be part of this exciting journey. AIStart Incubator’s network specialist Aline De Santa Izabel Alves got to try out the new immersive lab right away:
“It was great to join The Immersive sustainable lab launch and to see such a platform for innovation coming to life engaging communities, decision makers and citizens shaping the future of sustainable cities powered by immersive technologies.”
Extended reality made by startups and AI
The week continued with at Finland’s largest XR event, when the leading minds in Extended Reality (XR)—experts, startups, and organizations—came together to explore the latest innovations and trends shaping the future. Helsinki XR Center created a unique and highly efficient opportunity for matchmaking among XR startups, fostering new connections and partnerships that are set to drive the industry forward.
This year, the event also focused particularly on the digital space created by artificial intelligence, XR, and human creativity. By combining the creativity of these three areas, it is possible to produce in entirely new ways information, safety, entertainment, and even social companionship.
Knights of Nordics - deep tech and security brought together
FAIR and the City of Espoo are represented at the Knights of Nordics event, held at the historic House of Nobility (Ritarihuone) in Helsinki in the beginning of the week. The gathering brought together deep tech startups and visionary investors from across the Nordics, fostering collaborations that address complex global challenges. As a hub for innovation, Espoo is proud to support initiatives that drive sustainable development and technological advancement. Engaging with forward-thinking startups and investors at events like Knights of Nordics is crucial for building a smarter, more sustainable future.
Talks of AI carried on for three day with Knights of Nordics and also talks of security were brought up in Dual-Use conference. “Dual use” means technology that serves both civilian and military needs and AI is key for dual use because it can enhance both in a very flexible way. In civilian life, it helps in healthcare, industry, and daily tech. In defense, it boosts security, surveillance, and automation.
The base of economy depending on technology innovations
When the actual Slush -event started, over 13,000 people gathered together in the impressive Messukeskus premises. Entrepreneurs and investors from 90 different countries connected not only at the main event but also at side events held throughout Helsinki.
Fair’s project manager Solja Sulkunen and AI Incubator’s new network specialist Aline De Santa Izabel Alves were attending Slush and were thrilled to witness the ever growing impact of AI among the startups.
“AI, in its many forms, offers companies the opportunity to renew and create new business models. In Finland, 95% of companies are small and medium-sized enterprises, generating over 40% of the annual GDP. We cannot afford to lose any of these companies to the modern era of AI” Soljanen said after the event.
“The smart use of innovative technologies and the development of new business hold the power to uplift Finland’s economy while ensuring sustainable and ethical growth. It was encouraging to see these same themes echoed at Slush 2024, even in President Alexander Stubb’s speech” stated Sulkunen.
The president called for shared responsibility in the development of AI in shaping our society and emphasized the importance of democratizing it. The impact of AI on business was widely considered, along with its potential to revolutionize various industries.
Companies from all possible sectors were represented, and the excitement brought by new innovations was palpable in the air. Despite the diverse backgrounds and industries, one thing seemed to unite everyone participating in Slush week – AI was mentioned almost without exception in company pitches, panel discussions, and keynote speeches.
Startups showing - and questioning - the direction of AI
While AI regulation and cybersecurity seemed to be central to many discussions, companies also hoped for the freedom to develop AI in their own way – another reason why open dialogue is needed more than ever to find a shared direction.
The question of AI development’s direction and geography was also one of the hot topics at Slush amidst the sleet. There is tremendous expertise in Europe, yet AI markets and innovations seem to be progressing faster for example in the United States than on our own continent. There is a strong desire to increase collaboration between countries and create opportunities to experiment with and develop AI together, such as through shared international data centers. Once common rules are established to ensure safety, it becomes easier for companies to take risks.
In Finland, companies are supported by services like Business Helsinki’s startup initiatives, which help them navigate their way into the business world shaped by innovation and sustainable development in the Helsinki metropolitan area. FAIR also showcased its services at Slush’s side event, Helsinki Impact Lounge. Together with companies, cities aim to become concrete and open testing grounds for business development.
FAIR was particularly delighted to see several companies from its ecosystem pitching their ideas at the event. Present at Slush were:
- Headai: Developing AI-based tools for knowledge management and effective information utilization within organizations.
- Data Crunch: Focusing on analyzing and transforming large datasets into actionable business insights.
- ConfidentialMind: Providing AI-driven solutions for data security and privacy management.
- Root Signals: Analyzing business signals to support predictive decision-making for companies.
- Make a BIM: Automatically creating building information models from architectural drawings.
The opportunities created by artificial intelligence deserve even more visibility, and what better place than the famous stages of Slush. AI companies built new connections, secured funding, and demonstrated to the Slush audience just how far AI and new technological initiatives can take us.
“Is AI eating our world?” asked Benedict Evans, the world-renowned analyst and the final keynote speaker of the week, to the Slush audience. According to Evans, the platforms for using information technology undergo a complete transformation every 10-15 years, and no one yet knows where the AI revolution will lead us. There is a lot of hype around AI, but on a global scale, the adoption of its potential is still surprisingly slow compared to the rapid pace of AI’s development. Will large language models eventually do everyone’s jobs, or will their usage become automated before most people even realize they are using AI? Regardless of the direction that AI-driven future takes, FAIR will be part of it, reporting on the developments, just as we have throughout this startup week!
