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Finland’s Top Industry Strives to be the Global Leader in Utilizing Data

Radically more efficient utilization of data increases productivity and opens the way for growth, creating new jobs.

The Intelligent Industry Ecosystem of top Finnish companies pursues growth through better utilization of data and AI, leading to tens of thousands of new jobs. Nokia, Konecranes, Cargotec, Tieto and SSAB, among others, launched today the new InDEx Programme, financed by Business Finland and the companies themselves. Opportunities for SME’s and startups are huge, assesses the Programme Facilitator, DIMECC Ltd.

Industrial history has been made in Finland on Tuesday. Top companies driving the InDExProgramme (Industrial Data Excellence) started their pragmatic work towards global leadership. Radically more efficient utilization of data with AI is the key, tells Juha Pankakoski, Chairman of the Intelligent Industry Ecosystem and Executive Vice President, Technologies of Konecranes. InDEx will build a Data Community and a common data platform to Finland.

‘In order to create an intelligent industry, people and machines and appliances must communicate seamlessly with each other. Ambitious results can only be achieved with broad cooperation, and that’s exactly what we’re aiming at. Intelligent Industry brings together the most significant and innovative actors of our industry. The InDEx Programme launched today is a major endeavour of vital national importance’, characterizes Pankakoski.

InDEx is financed by Business Finland and the participating companies taking together: KonecranesCargotecDanfossElekmerkFastemsHT LaserNokiaPrimaPowerRauteSSAB and Tieto.The academic partner sof the DIMECC InDEx Programme are Aalto University, University of Tampere, University of Turku, University of Helsinki, University of Jyväskylä, University of Vaasa and VTT Technical Research Centre of Finland. Antti Karjaluoto, managing the work of Intelligent Industry, decribes the cost efficiency of the roughly 10 million euros invested in the Programme as spectacular.

‘We pursue growth, leading to tens of thousands of new jobs. The pessimistic estimate is 25 000 new jobs in five years, whereas the more optimistic estimate is 65 000 new jobs. This is possible due to the 2-3 percent increase in turnover, achieved by the more effective use of data in the industry. Even 99 percent of the value of data is left unused globally in the manufacturing industry. Together we can gain quick results, because the potential is so immense. The combined turnover of the participating companies is about 35 billion euros’, depicts Karjaluoto.

Benefits to both Economy and Climate

The Intelligent Industry Ecosystem and the InDEx Programme create versatile growth and combats climate change at the same time. That’s the estimate of CEO Harri Kulmala ofDIMECC Ltd, the the ecosystem lead. According to Kulmala, an AI-driven industrial revolution is on the way, where Finland already has a strong position through its data competencies, as verified for example by the DESI Index of the European Commission.

’By bringing annually over a billion euros of new turnover to Finland, we create staggering opportunities for growth for SME’s and startups – of which at least 40 are already onboard as subcontractors. Economic growth and jobs are however not the only benefit. Dozens of percents of energy can be saved with more intelligent use of data. This can significantly contribute to the prevention of climate change’, Kulmala lists the positive chances opening up.

 

 

STT Info Press release here

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