Skip to content
Innovation Project 2017

Applied AI

Every year at Innovation Centre Denmark Silicon Valley, we immerse ourselves in one or more chosen innovation projects. This year, we focus solely on artificial intelligence, in the efforts to help transform knowledge about artificial intelligence into impact in Denmark, benefitting Danish companies, the public sector, and universities.
When 01.12.2017
What
AI Research & Education

The case

Artificial Intelligence has been the subject of many opinions, optimism as well as scepticism, and is one of the most discussed subject today. In 2016 analysts from the McKinsey Global Institute wrote that "60% of all occupations have at least 30% of activities that technically are automate-able," and in a report on Artificial Intelligence, Automation, and the Economy the U.S. Whitehouse estimate that 47% of U.S. jobs are at risk of being replaced by AI technologies” over the next 10-20 years. Looking forward the next 3-5 years or 10 years the expectation is that the meaningful use of "applied AI" will move into numerous sectors affecting humans, organizations and eventually societies. In their Sizing the Prize report from 2017, PwC predicts that the global GDP will have increased by 14 % ($15.7 trillion) in 2030 due to adoption and implementation of AI solutions across a variety of industries.

Plugged into some of the most central epicenters in California

In the last five years almost $15 BN has been raised in venture capital across 2250 "deals" in the AI space. Most of the $15 BN can be traced to investors in the U.S., predominantly with roots in Silicon Valley. Many “AI Unicorns” (A unicorn being a company, usually a start-up without an established performance record, with a stock market valuation or estimated valuation of more than $1 BN) are based in the U.S, and together they cover a diverse field stretching from everything from credit risk modelling to drug discovery and autonomous vehicles, showing the breadth of applied AI. We at Innovation Centre Denmark in Silicon Valley utilize this favorably geological position of ours to gather relevant inspiration and knowledge.

The Applied Artificial Intelligence Project

Denmark as a society requires a global outlook to stay on top of trends, tendencies and potential collaborations and stay ahead in the fast-paced global economy. Through the Applied Artificial Intelligence Project, Innovation Centre Denmark provides insight into the development of AI and its implications as well as provide insight into how your company can get started with Applied AI. All in the efforts to help transform knowledge about artificial intelligence into impact in Denmark, benefitting Danish companies, the public sector, and universities. We want to transform the intangible AI into Applied AI; making AI tangible, concrete and useful. 

Our project will apply knowledge about artificial intelligence into five sectors where AI is expected to play a major role in an even bigger scale than today: Finance, Manufacturing, Energy, Healthcare and Public Administration.