The Next Frontier: Using Data, Insights and AI to Build Efficient Businesses

Some people may hear the term artificial intelligence (AI) and first think about programming. For me, I instead first think of efficiencies. Making data insightful and learning from data is something that any company can do; those that take advantage of data with the assistance of AI become even more efficient.?

When the Netherlands Foreign Investment Agency’s (NFIA) Americas team was deciding who would like to get involved with AI a few years ago, I immediately raised my hand. While taking on a new challenge can be uncertain, I was motivated since so many different industries touch AI: from agrifood and smart logistics to life sciences. Since then, my NFIA colleague Andrew Dasselaar and I are helping companies across North America understand how the Dutch are innovating AI solutions across sectors and how they can be a part of our knowledge sharing and strong business climate if they decide to invest in Holland.??

The Netherlands at the forefront of AI innovation?

Don’t just take my word for it. A McKinsey & Company report ranks the Netherlands among nine digital frontrunners that can lead AI in Europe. And, the Dutch government recognizes the importance through its Strategic Action Plan for AI. This strategy outlines how the Dutch will capitalize on societal and economic opportunities presented by AI, as well as safeguarding the public interests of AI.?

Beyond the Dutch government’s strategic plan, the Netherlands is also home to the Innovation Center for AI (ICAI) – a national network based at the Amsterdam Science Park – which provides a model for company-funded research stimulating the academic world, through collaborative labs that help companies maintain a connection to share AI knowledge.? We also have the Netherlands AI Coalition (NL AIC), which works as a catalyst for AI knowledge and research initiatives.??

A key to the forward-thinking environment and groundbreaking Dutch research in AI – like many other industries – is our triple helix approach. This regular collaboration between government, business and academia fosters ideal conditions for innovation to build smart, sustainable solutions for the future.?

Tapping into our world-class R&D hubs and public-private partnerships, Microsoft Research is an example of a global company benefitting from the Dutch AI innovation and investment . The company is set to open a new AI lab in Amsterdam, which will focus on molecular simulation under the leadership of renowned Dutch physicist Max Welling, strengthening the AI ecosystem in the Netherlands. ?

AI making an impact in life sciences and health?

AI in the health care sector is highly impactful as it’s helping diagnose patients better and faster than doctors can themselves. According to the McKinsey study linked above, the overall use of AI in health care systems and services leads to a potential of $2-9 trillion in savings in Europe.?

Quantib is an interesting company in AI which was a spin off from the Erasmus University Medical Center and is expanding rapidly. The company was recently acquired by U.S.-based RadNet and is implementing AI based upon deep-learning algorithms for prostate MRI.?

In a similar vein, there is AI developed at Radboud University Medical Center that detects prostate cancer. Another international company using data-driven medicine for oncology in the Netherlands is Lunit, which develops and provides AI-powered solutions for cancer diagnostics and therapeutics.?

Meanwhile, two Dutch companies – Thirona and Delft Imaging – have teamed up and trained an AI algorithm to diagnose COVID-19 via X-ray scans.?

Farming the future with AI?

Similar advancements are happening in agrifood. CROP-XR, a “virtual institute aimed at developing agricultural crops that are more resistant to climate change and less dependent on plant protection products,” has been granted €42 million from the Dutch government. The need for resilient crops is on the rise with the effects of climate change, and CROP-XR is helping to solve that problem.??

In the dairy industry in particular, researchers from Wageningen University & Research are using AI to detect deviations from the standard gait pattern in cows. Recognizing these abnormalities early on can mitigate impacts in milk production, and consequently, economic losses. Connecterra is also using AI to detect sickness early and reduce antibiotic treatment in dairy cows. The technology is being used to create sustainable farming models that eliminate the use of hormones, reduce antibiotics usage by up to 50%, and increase farm efficiency.?

The next frontier of AI?

While life sciences & health and agrifood are big sectors for Dutch innovation in AI, the innovations go beyond these industries. The Netherlands is already a major gateway to Europe, and the use of smart logistics is only making efforts more impactful. AI and robotics are helping to automate warehouses and predict demands in the supply chain. Using robotics and AI also presents a potential solution to address challenges around the labor shortages, though better prediction models and automation.

Another example of a company using AI is Phenom People, using the technology to power its talent recruitment software. The company is US-based with its European headquarters in Rotterdam and initiated the HelpOneBillion platform to help recently laid-off and furloughed job seekers impacted by the COVID-19 pandemic.?

The list of companies using AI goes on-and-on, and as the world becomes more and more digitalized, AI is the next frontier. North American companies have the infrastructure and size to make a change, connecting with Europe and the world through the Netherlands. The Dutch have an entrepreneurial drive. Together, companies in the Netherlands can find fertile ground to connect and strengthen skills, and innovate for global solutions, and that excites me. Come be a part of the momentum! ?

If you’re interested in discussing how your company can expand to the Netherlands, please check out our blog and video on AI, and reach out to me at [email protected]. I’d be happy to guide you through NFIA’s network.?