Sponsored Content Do you have time to think? February 2019 Money talks Sari Lounasmeri: Households as growth funders Amos Rex The new art museum encourages you to leave room for the future Deep dive AI: How do you recharge Marcus Samuelsson Linda Liukas your batteries? A world-renowned chef + We asked Nordic Business whose career has taken Forum participants how they him all around the world Andrew McAfee, Alf Rehn, recharge their batteries Katri Saarikivi, James Hewitt NORDIC BUSINESS REPORT 2019 3 Sponsored Content Contents 6 FROM THE EDITOR: Give yourself a break! 7 FOREWORD: Barack Obama 8 INTRO: Endanger your thinking 12 STORY: If you give a lot, you receive a lot 18 AGAINST THE WALL: Startups 19 Careers of change – becoming an etrepreneur in your 40s 21 MONEY TALKS: A bow to capitalism 22 Households as growth funders 24 DEEP DIVE, AI: The time for A rtificial I ntelligence is now 26 A guide to A rtificial I ntelligence 29 Why we are still underestimating Artificial Intelligence 30 Marvelling at A rtificial I ntelligence is allowed 36 An update to humanity’s image is needed in working communities 39 COLUMN: To speed up your business, first slow down 40 WELLBEING: Find your rhythm – The key to sustainable high performance 44 MY BOOK SHELF: Wise dreams 46 INSPIRATION: Amos Rex, It`s fun to be weird! 50 Amos Rex,Experiencing Teamlab Massless 51 PICKS AND PIECES: How do you recharge your batteries? 52 To read, startups to follow and to work 54 Q&A: What I learned through founding Oura Health 7 Foreword: Barack Obama 12 Story: Marcus Samuelsson 30 Deep dive AI: Linda Liukas 4 NORDIC BUSINESS REPORT 2019 Sponsored Content 36 Deep dive AI: Katri Saarikivi 46 Inspiration: Amos Rex 44 My book shelf: Anders Ekholm 54 Q&A: Petteri Lahtela Q&A CONTACT INFORMATION PUBLISHER Nordic Business Report Nordic Business Report Oy PRODUCTION Nordic Business Report Kuortaneenkatu 1 PRESS Pipeline Nordic 00520 Helsinki, Finland CONTRIBUTORS: John Cozzi, Riitta Ekholm and Tiina Örn +358 20 775 1390 SALES Titti Myhrberg [email protected] EDITOR-IN-CHIEF Mia Heiskanen www.nbreport.com ART DIRECTOR Vilma Lehtonen NORDIC BUSINESS REPORT 2019 5 Sponsored Content From The Editor GIVE YOURSELF A BREAK! You´re holding a slightly reformed version of – decide how you spend your time each day. MIT Research Scientist Andrew McAfee the magazine you may have picked up when James Hewitt from Hintsa Performance also strongly believes we still underestimate AI. attending a Nordic Business Forum event. reminds us that we can’t always be on. His ad- He states the following: “The progress we’ve Around the time when the 2018 version of vice: “Optimize. Don’t maximize. Understand seen gives us a glimpse of what might be pos- the Nordic Business Forum was taking place your unique cognitive rhythm and work in sible if we just let the machines take the lead. in Helsinki, a new spin-off company, Nordic the way that suits it best.” I, for example, be- Is there time to think in business anymore? Business Report Oy, was established, which long to those 20% referred to as “early birds,” The continued pursuit of quarterly results in has now published this magazine. meaning my cognitive peak is in the morning. today’s uncertain global economic and polit- We chose taming the daily rush as the We also wanted to dive deep into AI, be- ical environment challenges each individual’s theme for this issue. Each one of us is caught cause it is clearly a subject that is on many ability to cope and make smart decisions. Last in a crossfire of signals, stimuli and social people’s minds - even though some consider autumn, Barack Obama stated in his speech media from the moment we wake up. Sur- it to be reaching saturation point as a topic of that there is reason to be concerned. ”Young rounding us is the transparency of everything discussion in many media. There are differ- business leaders believe in the power of global – climate change, risk management, law ing opinions on AI. Many believe it offers business but worry that all their focus goes in changes and regulations, digitalization, AI, amazing future opportunities for individuals to the quarterly returns, which means they´re blockchain. Every so often I ask myself – is it and companies, but many also quietly con- not able to think about the impact of their really necessary to know everything? Is it truly template what it actually means. According work in the long-run”. And, as Alf Rehn beneficial to monitor and interact with every to non-fiction author Linda Liukas, it is typ- states in his column: “To speed up your busi- stream of information that is available to me? ical for us to carry a suitcase of unclear termi- ness, first slow down! A place to stop can be How can I interpret and filter this flood of nology that everyone explains to themselves provided by an inspiring location, such as the messages, differentiating between the signif- in their own way - since they are not brave slightly crazy Amos Rex Museum, an excel- icant and the insignificant? enough to admit that they don’t understand. lent book - or why not this magazine? So, sit If you feel like social media and technical Deep neural pathways in our brains tend to back, relax and give yourself a break!” gadgets are dominating your daily life, neu- position unclear issues as frightening threats. roscientist Katri Saarikivi recommends you What if you were to raise your hand and ad- Mia Heiskanen, Editor-in-Chief choose to do otherwise. You can – and must mit out loud that you don’t understand? 6 NORDIC BUSINESS REPORT 2019 Sponsored Content Foreword Foreword Barack Obama ”The revolution in globalization, technology and communications has shrunk our planet. The changes that are now taking place technologically are profound. People are more closely bound together, which creates enormous opportunities. If you come up with a great app or you have a special skill, you are surrounded by a global market that you can access instantly. The challenge is to adjust our social and political arrangements to meet these new times, be- cause our governments, political and social arrangements move much too slowly compared to tech- nological and economic changes. AI is a great example of technological development that can help us identify and solve many of the challenges we´re facing today that also requires attention, focus and public conversation on many levels. That is why I think you shouldn´t separate the business ”environment from political and social environments. My hope is that business leadership could engage more directly with both, saying we have a business which can do a lot of good, but we recog- nize there are some issues involved. Let´s engage each other so we can solve this problem together. I used to describe the President of the United States as the captain of an ocean liner. You had to use a lot of power to get people working together over a long period of time just to be able to move things a few degrees. Now, I´m able to focus on organizations all over the world to have them work better together by investing in the next generation. I believe that if you invest in talent and human capacity, bring people together over cultures and boundaries, there isn´t a problem we cannot solve. Everywhere I travel, I´ve noticed that especially young people have a sense that change is needed – but the old institutions don´t seem to work. At the same time, there are a lot of young business leaders who believe in the power of global market and entrepreneurial spirit, but worry they become too captive to the mindset where all your focus goes to the quarterly returns and you are not able to think the impact of your work in the long-term. That means younger generations want to come up with new leadership models, and if we can get them together, we will have a new kind of power which will unleash a positive change. And that leads us to a new brighter world with smart, passionate and caring leaders. John F. Kennedy once said: “There isn´t a problem that man faces that a man can´t solve, because we created those problems.” I think the human spirit yearns for truth, kindness, solidarity and fellowship. If we are focused and generous in our spirits, I´m confident that the challenges we face today can be overcome – just as they were in the past”. President Barack Obama *Extract from Barack Obama and Niklas Zennström conversation at the Nordic Business Forum 2018 NORDIC BUSINESS REPORT 2019 7 Sponsored Content 8 NORDIC BUSINESS REPORT 2019 Sponsored Content Intro: Endanger your thinking... NORDIC BUSINESS REPORT 2019 9 Sponsored Content Intro Endanger your thinking Can you think differently about thinking differently, asks Alf Rehn, a Finnish professor teaching in Denmark. Asking questions and expressing doubt certainly produce in the long run more on the bottom line than like-minded nodding. estern countries have intensified tionalism, climate change and trade wars are ing. According to Harari, instead of grinding W diplomatic pressure on Russia and very real, but trading in threats does not really away, schools should invest more in the arts accused it of violating Ukrainian move matters forward. and social skills. integrity on the Crimean peninsula. People rant maniacally about other issues According to Finnish professor Alf Rehn April 2018, the fire suppression system such as artificial intelligence, nanotechnology at the University of Southern Denmark, cre- went off in Nasdaq Nordic's data centre in and other high-tech advances.