Finland can capture a significant share of AI-driven growth

Artificial intelligence is the defining industrial transformation of our time, rapidly reshaping competition and the logic of value creation around the world.

Although Finland is among the EU’s leading countries in the adoption of AI by businesses, this has not yet translated into sufficient economic growth.

“Simply adopting AI is not enough if computing capacity and data governance remain in the hands of others. Economic value is increasingly created where AI models are trained, infrastructure is developed and new applications are scaled,” says Laura Halenius, Senior Lead at Sitra.

Finland can build a world‑class AI‑driven growth platform, but doing so requires deliberate and long‑term choices. This conclusion is presented in Sitra’s report Where does growth come from in the age of AI? (available in Finnish), published on 24 March. The report is based on Sitra’s own work and a comprehensive assessment carried out together with the consulting firm BCG on the impact of a European AI gigafactory.

Finland has strong foundations

The world is on the brink of a new wave of industrial investments driven by artificial intelligence. In Finland, however, the discussion to date has focused primarily on the energy consumption of data centres.

Finland has an exceptional combination of strengths: access to affordable, low‑carbon energy, world‑class expertise in data networks and quantum technologies, and strong research capabilities in high‑performance computing.

“What matters most is which parts of the AI value chain Finland chooses to specialise in, and whether we have the courage to define our position deliberately. This, in turn, requires a clear understanding of our strengths and a concrete implementation programme to enable the necessary industrial investments,” Halenius emphasises.

At present, the United States and China are leading the development of artificial intelligence, having invested heavily in AI infrastructure.

Europe’s challenge is not a lack of expertise. The problem is that the most valuable parts of the AI value chain – where the greatest economic value is generated – are largely located outside Europe. This increases economic dependency and risks, reducing Europe to a mere user of technology, rather than a developer and exporter of AI solutions.

The AI gigafactory as an example

The report examines AI gigafactories as an example of strategic infrastructure through which Europe seeks to strengthen its capabilities and self‑reliance in artificial intelligence. A gigafactory is a very large‑scale computing environment – a data centre that simultaneously serves research, businesses and the public sector.

Establishing a gigafactory is not an end in itself. Its significance lies in its wider impact: lowering the threshold for companies to develop and scale new AI solutions.

A leap in productivity will only materialise when AI is also used to create something new. Finland could find opportunities in areas where it already has strong capabilities, such as health and wellbeing technologies, applications leveraging quantum technologies, the defence industry, pharmaceutical and materials development based on physical modelling, and applications built on physical AI.

“A euro invested in AI can generate returns many times over. For this to happen, investments must be directed towards the core of the value chain. In the age of AI, growth does not occur by chance, but through deliberate choices and long‑term investment in both the hardware and software layers of AI,” Halenius says.

Sitra presents further insights into the growth opportunities offered by artificial intelligence and provides a comprehensive overview of Finland’s foundations and prospects for sustainable growth in the Growth Atlas 2026 report.