Placing Artificial Intelligence at the Forefront: Sweden’s National Technology Strategy

Sweden has unveiled a new National Technology Strategy (NTS) that focuses on artificial intelligence (AI) and long-term investment to enhance the competitiveness of Swedish companies. The strategy, launched by Prime Minister Ulf Kristersson’s coalition government, aims to boost state-funded research and development (R&D) activities and establish an AI Commission (AIC) to contribute to AI policy formation. The AIC, chaired by Carl-Henric Svanberg, will analyze prevailing conditions in Sweden and provide proposals to attract international venture capital for AI projects. The NTS also aims to promote public-private partnerships and increase state support for advanced AI and digitization initiatives. It takes place amidst ongoing efforts in the European Union (EU) to establish common regulations for AI. Sweden’s AIC review also plans to promote a safe and competitive AI environment in the EU and globally. The Market size of Sweden’s AI sector is projected to exceed $3 billion in 2023, with an expected growth rate of 18.2% over the next decade. Key areas for AI investments in Sweden include healthcare, public administration, defense, engineering, and financial services. Municipalities are also actively embracing AI usage, with the potential for AI to create an annual value of over SEK 140 billion in Sweden’s public sector. The Swedish government has updated its legislation, including the Foreign Direct Investment Act, to include comprehensive provisions for the use and protection of AI technologies.

Unlock your business potential with our expert guidance. Get in touch now!