Return to site

Sweden's Economy Embraces AI & Automation

· Sweden,Ai,Ai Investing,Automation,Europe

Sweden's Economy Embraces AI & Automation

Sweden is taking part in the automation and AI revolution. Both the private sector and public sector are embracing the new future. Automation is being utilized in the private sector by manufacturing companies to streamline production and Sweden’s government is also investing in AI with the country’s largest ever industrial research program, The Wallenberg AI Autonomous Systems and Software Program (WASP) obtaining 3 billion Krona (345 million USD) to spend between now and 2026. All of this advancement is supported by a unique societal structure that encourages change in the workplace.

Sweden is investing heavily in automation, specify in manufacturing. With labor at a relatively high cost historically and increasing external competition, companies are turning to automation.

According to a survey produced by the Swedish Trade and Investment Council out of 600 international companies who partially operate in Sweden nearly half have expanded their manufacturing in Sweden in recent years. In fact, many companies report difficulty finding enough qualified employees to harness new technological advancements in the manufacturing industry.

In a recent study conducted by the Stockholm Business Region the Industrial IT and automation industry has annual sales of 70 billion krona in 2017 compared to just 50 billion in 2009. “The survey shows that the automation industry is becoming increasingly important in the Stockholm region. And everything points to continued growth, because all sectors of society are facing increased automation and digitization,” according to Mikael Klintberg a process manager at Automation Region.

A specific example of this expansion is SKF’s 22-million-dollar investment automation on its Gothenburg assembly line. SKF is the world’s largest producer of industrial bearings. The investment will reduce staff slighty but cut costs dramatically.

The company says it plans to make similar invests of the same magnitude at other plants for years to come. The head of operations at SKF, Luc Graux says that manufacturing at SKF will look dramatically different five to ten years from now on account of automation. It is clear that automation is the future of manufacturing and Sweden is no exception to the global trend.

The Wallenberg AI, Autonomous Systems and Software Program (WASP) is Sweden’s largest ever individual research program. After recent large contributions WASP has sizable funds with access to 3 billion krona (342 million US) between now and 2026 according to their website. This investment allows for addition 250 research students and 45 senior research partners.

The two main components of WASP’s strategy are “eXplainable AI” and mathematical research. “eXplainable AI” refers to programs where researchers ask systems to explain how they derive their answers, so we better understand how AI thinks and how we can improve its process. The second program will be largely quantitative in which researchers seek to improve our understanding of the mathematics that support AI. 70 million Krona will be used to reinforce computing infrastructure.

The chair of the WASP board Mille Millnert comments “This is a unique investment, even in an international perspective. WASP will in this way obtain the resources needed to create the knowledge platform that Sweden requires if it is to continue to hold its position at the forefront of research and remain competitive.”

Some countries fear the AI and automation revolutions, but Sweden has been very receptive to change. 80 percent of Swedes have positive views of robots and artificial intelligence according to the European Commission. This a drastic discrepancy from Americans, 72 percent of whom are “worried” about computer and machine growth in the workplace.

Why such a reverse in employee sentiment? Some think that the social welfare system and employer culture help alleviate fears. “In Sweden, if you ask a union leader, ‘Are you afraid of new technology?’ they will answer, ‘No, I’m afraid of old technology,’” according to the Swedish minister for employment and integration, Ylva Johansson. “The jobs disappear, and then we train people for new jobs. We won’t protect jobs. But we will protect workers.”

Even if an employee is terminated generous unemployment benefits provide a cushion so the employee can recover and find new work. Regardless of one’s opinion on social welfare, it seems to assist the assimilation of change in the workplace.

My Experience With Coronavirus

Why did Coronavirus Spread so Fast?

Coronavirus and Globalization Moving Forward

Disinfecting Surfaces Against Coronavirus

Contagion Risks from Coronavirus

Coronavirus Oxygen Supplementation 101

Coronavirus: The Global Economic Impact

Home Care for Coronavirus

Coronavirus Causes Long Term Problems?

Online Coronavirus Scams Proliferate

What Is The True Coronavirus Case Fatality Rate For Young People?

How Likely Are Young People to be Hospitalized With Coronavirus?

Living On The Edge of A New Society

Coronavirus Will Test the Limits of Our Hospitals

Coronavirus Catapults Global Testing Innovation

Spain Suffers Under Coronavirus

Data, Models & Misinformation on the Coronavirus

Origins of the Coronavirus

Coronavirus Travels the Silk Road

Coronavirus Attacks Italy's Sick and Elderly

Is the New Coronavirus Drug a Cure?

What is the Mystery of Germany's Low Coronavirus Fatality Rate?

Coronavirus & the Economy

The World Will Be More Technologically Advanced After the COVID-19 Pandemic

Why has the Coronavirus Not Exploded in Japan?

Italy's Coronavirus Death Rate is Falling

Conquering The Coronavirus

Coronavirus Speeds Up Robotic Revolution

Economic Depression Will Destroy More Lives Than Coronavirus

Can Hydroxychloroquine be Used to Treat Coronavirus?

Northern Italy & Wuhan: Partners for Better or Worse

The Race for the Coronavirus Cure

How Did Taiwan Manage the Coronavirus so Well?

What is the US Coronavirus Fatality Rate?

Travel Ban Saves Airlines Billions

Coronavirus Superspreader?

Deep Learning Detects Coronavirus

Singapore's Coronavirus Patients Have a 0% Mortality Rate So Far... Why?

AI is Mapping the Coronavirus and Inferring its Possible Economic Impact

Coronavirus: Fact from Fiction

Death From Covid-19 is Not From the Coronavirus:

An Interview With NYU Langone Health Professor & Rheumatologist Dr. Gary Solomon

Coronavirus Attacks Italy's Sick and Elderly

Interview with NASA Astronaut Scott Kelly: An American Hero​

13 Questions With General David Petraeus

Why Choose Machine Learning Investing Over A Traditional Financial Advisor?

Interview With Home Depot Co-Founder Ken Langone

Interview with the Inventor of Amazon's Alexa

Automation and the Rebirth of American Retail

China Debuts Stealth Unmanned Combat Aerial Vehicle

Sweden's Economy Embraces AI & Automation

Austria's Automated Ai & Robotic Future Is Now

Nuclear Submarines: A 7,000 Lb Swiss Watch

Ai Can Write Its Own Computer Program

On Black Holes: Gateway to Another Dimension, or Ghosts of Stars’ Pasts?

Egypt's Artificial Intelligence Future

Supersonic Travel: The Future of Aviation

Was Our Moon Once Habitable?

The Modern Global Arms Race

NASA Seeks New Worlds

Cowboy Turned Space Surgeon

Shedding Light on Dark Matter: Using Machine Learning to Unravel Physics’ Hardest Questions

When High-Tech Meets Low-Tech Economy: Ai & the Construction Industry

Aquaponics: How Advanced Technology Grows Vegetables In The Desert

The World Cup Does Not Have a Lasting Positive Impact on Hosting Countries

Artificial Intelligence is Transforming the Forex Market

Do Machines Dream? Inside the Dreams of a Machine

Can Ai Replace Human Ski Coaches?

America’s Next Spy Plane

Faster than Sound and Undetectable by Radar

The Implications of Machine Learning on Condensed Matter Physics & Quantum Computing

Crafting Eco-Sustainability: WTC and Environmental Sustainability

Can Ai Transform Swimming?

Argentina's AI Future: Reversing a Century of Decline

Tennis & Artificial Intelligence

Kazakhstan's Ai Aspirations

Peru's Ai Future Will Drive Economic Growth

The Colombian Approach to the AI Revolution

How AI Can Explain Its Thinking

Singapore: Ai & Robotic City

Ai in New Zealand

Brazil & Artificial Intelligence​

Denmark & Ai

Can Ai Replace Human Ski Coaches?

Tennis & Artificial Intelligence

Written by John Martin & Edited by Alexander Fleiss

All Posts
×

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OK