Peter’s Pioneers: Checking the Nordic AI Pulse.
Welcome to the maiden edition of Peter’s AI Pioneers newsletter. Dive in for a roundup of this week's AI news, deals and insights covering the Nordic region.

📚 In This Issue:

1. AI Funding Winds Blowing Strong for Scandinavian Tech

2. Danish Universities Race to Meet AI Demand

3. Norway's $1.4T Wealth Fund Pushes for Ethical AI

4. News Roundup

5. Cool Tools and Companies

6. Podcast Insights: The Future of AI in Denmark

7. Upcoming: Nordic AI Events You Shouldn't Miss

Top Three News Stories

💼 AI Funding Winds Blowing Strong for Scandinavian Tech
Sweden's tech scene is buzzing. Hopsworks, the 'Data Warehouse for Machine Learning', recently bagged $6.5 million in Series B funding, with Vendep Capital leading the round.

Meanwhile, Stylee, leveraging AI for fashion recommendations, received $2 million in funding from Bling Capital. Additionally, Flower Technologies, supporting renewable electrification, secured $36.6 million, thanks to Ellevio.

In Denmark, Sentispec is making waves. Their AI platform, which capitalizes on video data through Robotic Process Automation, attracted a cool $25 million in a Seed Round that included Founderment Ventures.

My take: AI funding and deal pace in the Nordics underscores the region’s vast potential. The regional market is rich in companies looking for and willing to try out new solutions. Nordic countries have some of the highest average salaries in the world, making solutions that can create new efficiencies extra attractive to the home markets. Being in the EU, having high English proficiency, and an international outlook also contribute to AI’s potential in the region. In short - keep an eye out. For example, by subscribing to this newsletter 😄  

🎓 Danish Universities Respond to Growing AI Demand

Aalborg University (AAU) and Syddansk Universitet (SU) are launching innovative AI programs to meet growing demands.

AAU's curriculum is shaped in collaboration with industry giants like B&O. It emphasizes a holistic AI approach, from development to practical implementation.

My take: The new program illustrates how accelerating AI will be a cross-societal effort. Companies already face challenges when trying to recruit employees with AI skills. It also underscores Denmark’s commitment to meeting the demand for AI specialists in a rapidly digitizing global landscape. On a positive note, the shortage may create opportunities for start-ups offering AI skills, services or outsourcing. 

🔍 Norway's $1.4T Wealth Fund Pushes for Ethical AI
Norway's $1.4 trillion wealth fund is pushing for the ethical use of AI in its portfolio companies. 11.9% of the fund's total value is invested in technology targets.

CEO Nicolai Tangen likens AI's significance to essentials like power and the internet, emphasizing its potential to revolutionize business productivity. However, he insists on its responsible application, which is especially important in the healthcare, finance, and tech sectors.

My take: Norway’s wealth fund is the largest in the World. When it speaks, investors and companies alike sit up and take notice. The fund has previously stated its commitment to ESG and sustainability, and it seems like it is planning to do the same with AI. In both cases, portfolio companies that don’t live up to the coming standards (what ethical AI means is still open to discussion) could soon find themselves looking for new/other investors. 

🎙Nordic News Roundup

• The Norwegian government will invest one billion kroner in AI research [NO] (NRK)

• Data, talent, and AI platforms will be crucial for success, says Accenture Sweden [SE] (Vioster)

• Danish AI-tool against illegal goods sees rapid international growth [DK] (Børsen) (Paywall)

• Aftonbladet decides to block all AI data scraping tools [SE] (Aftonbladet)

🛠️ Cool Tools & Companies

• Synthesia from Denmark allows you to create videos from plain text. Read about co-founder and CEO Victor Riparbelli and Synthesia’s journey [DK] (TV2)

• Uizard from Denmark is an AI-powered design tool transforming text prompts into intuitive UI designs, streamlining collaboration and making UI design accessible to everyone.

• Boost.ai from Norway specializes in AI-powered chat and voice bots, offering scalable conversational AI to automate customer service and enhance user experiences without coding.

🎧 Listen To

• Fremtiden på P1 [DK] - experts dive into the future role of artificial intelligence in Denmark, debating its potential impact with insights from AI and tech leaders.

📅 Training, Meetups & Conferences

• 2-3 October: Nordic AIMEET Symposium in Copenhagen: Uniting young AI researchers.

• 8-9 November: Digital Tech Summit 2023: The heart of Nordic deep tech.

Got an AI story or insight from the Nordics? Share it with me!

Reply to this email or connect on LinkedIn.

Until next time,

Peter