Last week, I attended Techarenan, a meeting place where future technological possibilities are discussed among startups, entrepreneurs, specialists, and large established companies.
A presentation from one of the stages that really opened my eyes came from PwC Sweden. They presented their latest CEO report, showcased at Techarenan with a specific focus on technology and AI and their impact on Swedish business leaders and their operations.
And just as in HR, apparently our Swedish CEOs are lagging behind in their focus on technology and its possibilities. A few excerpts from the report are found below.
We have few role models in Sweden when it comes to technology, data, and AI usage and focus, but Spotify is truly one of them. They are at the forefront both in terms of their operations and also how they work within the company's walls. On Monday, the next podcast episode will be released together with Katarina Berg.
It quickly became apparent that the problem of digital lagging is not only present in HR. At the executive level, there is a lack of skills, trust, experience, and above all, the willingness to invest in AI.
PwC's report shows that 45% of global business leaders now believe that their operations will only be competitive for up to ten years if they do not renew their business models. This is a clear increase from the previous year and shows that the need for change is not only here to stay – it's growing.
The main drivers behind this change are rapid technological development, new laws and regulations, and changing customer preferences. This reflects the rapid advancements in AI, stricter sustainability requirements, and rapid shifts in consumer behavior.
To keep pace, companies must be innovative and continuously explore new ways to create value for their customers.
Swedish business leaders do not see the same potential in technological opportunities to create new value as their global counterparts do.
Specifically for AI, PwC's survey shows that Swedish business leaders are much more cautious than their global colleagues. Only 18% of Swedish companies have implemented generative AI, compared to 32% globally.
This difference can partly be explained by widespread uncertainty about AI among Swedish business leaders, which is not only due to a lack of knowledge but also to a debate that often focuses more on the risks than the opportunities of AI.
Swedish companies have been slower to implement AI technology than global companies. Possibly, this reflects the fact that Swedes generally feel great skepticism toward AI solutions. Only one percent of Swedes have full confidence in AI, but at the same time, believe that trust can increase through better security systems and regulation. Therefore, for AI to take off, it is crucial that companies develop and use their AI solutions in a responsible and secure manner, says Fredrik Lundberg, responsible for AI, Data & Analytics, PwC Sweden.
The skepticism surrounding AI is surprising, considering Sweden's prominent position in various innovation indices and our country's digital maturity. It raises questions about Swedish companies' ability to think innovatively in developing their business models, especially in a time of rapid change.
Despite these challenges, there are bright spots. Swedish companies are, for example, leading in climate work, and optimism about global growth has increased significantly compared to last year. These advancements demonstrate an ability to adapt.
For Swedish companies to maintain their competitiveness and leading position globally, it is crucial to increase efforts in AI and digitization. It's not just about introducing new technology but also understanding how this technology can create value for customers, employees, i.e., the organization's internal, and society at large.
This requires a culture of continuous learning, openness to change, and a willingness to take risks.
Sofia Götmar-Blomstedt, CEO of PwC Sweden, emphasizes that the report is a call to all business leaders to see technology and AI not only as efficiency tools but as fundamental building blocks for future value creation.
Technology and AI are not just efficiency tools. They are fundamental building blocks for future value creation.
In a time when change is the only constant, Swedish companies must dare to explore the unknown and embrace the opportunities of AI and digitization. By doing so, they can not only secure their own future but also contribute to shaping a world where technology and humanity go hand in hand towards a sustainable future. This adventure begins with a step forward, towards innovation and renewal. Ultimately, it is the companies that dare to think differently and act courageously that will lead the way into tomorrow's business world.
My advice is to ensure that everyone in the organization has a basic understanding of digitization and AI and boldly explore the opportunities and the future organization.
It's time to invest in digital knowledge now! 🧑🏼💻
Interesting things are happening in the HR Tech field, both globally and locally!
On Monday, Workday announced its intention to acquire HiredScore. This is one of the biggest news in the HR Tech industry since Oracle announced its acquisition of Taleo 12 years ago.
(2012 was also the year when IBM acquired Kenexa, which got me into this crazy area, i.e., HR Tech)
Most people in the industry know that Workday has not had a particularly strong recruitment part in its platform, and both recruiters and candidates have complained about the experience. With the acquisition of HiredScore, they get a top-notch platform built on AI and innovation in the TA area. HiredScore has grown over many years to become one of the industry's foremost in Talent Acquisition.
Not as big a deal as the above but very important here in Sweden!
It will be exciting to see what it means for both companies but also for customers and industry colleagues 👏🏻
Read more here!
Read more here --> HR Digi on LinkedIn: CatalystOne acquires Populum
Read more here --> TQ Nordic on LinkedIn
Inequality and lack of innovation are some of the reasons why I advocate for digitalization, innovation, and HR. And in that way, change how we recruit and fill various roles in organizations. i.e., move away from traditional models and focus more on inclusive variants.
Therefore, I want to highlight the problem we have in the area of gender equality, still!
RECRUITMENT HALTS GENDER-EQUAL LEADERSHIP TEAMS
The percentage of women in leadership positions has steadily increased over the past ten years, but now the development seems to plateau. New recruitment of women reaches a maximum of 35 percent – the remaining vacant positions still go to men. With the current recruitment rate, Sweden is unlikely to achieve gender-equal leadership teams. Moreover, recruiters also fail on other diversity fronts. 📣 HELLO! Seek help from those who know how to do things differently!
We are creatures of habit. Since ChatGPT came first, that's the product we use. But I challenge you to try Gemini instead. I'm super satisfied with Gemini - for my purposes. For example, if you want to search for steroids. Then you'll get information on where the material comes from. You won't get that with ChatGPT, as it's not a search engine.
Try Gemini here.
In the February issue of the HR Association's magazine HR People, they write that the sale of bossware, IT tools for monitoring employees, is increasing in line with hybridization. I've seen these tools in the USA but didn't think we would venture into monitoring here in Sweden, as trust is a significant aspect. But apparently, a change is underway.
You can read the article here.
Already at the end of 2023, we received the news that Linkura had filed for bankruptcy. The health tech company Linkura was founded in 2013 with the idea that people should take control of their health. This was to be done with the help of the company's meters. By attaching the meter to the chest, which in turn was connected to an app, it measured stress levels, sleep, and activity around the clock. And of course, I tested it and even invited Linkura to the podcast. But now the company has gone bankrupt. It's sad since the area is so important.
Read more here.
Tengai Unbiased has secured SEK 5 million and Adway SEK 31.6 million according to Swedish Tech Weekly / Swedish Tech News.
Below are some of the most important HR Tech events this spring. In addition, there are many different digital events delivered by suppliers, industry organizations, and magazines. But they usually don't fit here. I also want to continue to recommend the training courses I run that the entire HR team should attend to increase their digital competence, including understanding AI. There are many AI courses going on right now because this is the most hyped area, but I have chosen not to list them here. Instead, contact me if you want tips. Then to hej@hrdigi.se.
Several of the participants in my courses have received support for their participation from the transition fund.
I want to recommend two different courses:
The digital training at the HR Association starting May 14th --> Read more and sign up for the course here.
The physical training on-site in Stockholm October 15-16 --> Read more and sign up for the course here.
Usually a very inspiring event on the theme of recruitment and with a lot of innovation and tech!
You can read more here.
You can read more here.
This is the digital version of my favorite event that I attend in Las Vegas every year and is now also available in Europe. The digital version is free. All you need to do is take your evening time and sit comfortably and join in. You can read more here.
In addition, there are more international events during the year. And as usual, I will be going to the
HR Technology Conference in Las Vegas September 24-27 ✈️
HRcoreLAB March 13-14 Barcelona
hr technologies April 17-18 London
Gartner Reimagine HR September 17-18 London
Unleash World October 16-17 Paris
________________________________________________________________
The goal of the newsletter is to write about news in the HR Tech market and digitalization for HR in various ways and also to talk about the episodes of the HR Digitalization podcast. Comment! What do you want us to write about next time? Any specific topics you're curious about? You can help decide the content. Remember to ► click subscribe ︎
My name is Anna Carlsson, and I'm a curious HR Tech analyst with over 20 years of experience at the intersection of business, human, and technology. My passion is to lead the movement for future HR by creating it together with customers and colleagues and by educating and developing organizations and individuals.
I run HR Digi, which includes the HR Digitalization podcast.
👉 Book a digital coffee with me so we can discuss how I can support you in your work.
