It has been a turbulent economic year in many ways so far, notes Jacob Wallenberg, chairman of the Confederation of Swedish Enterprise and the Wallenberg sphere's power company Investor.
But after, among other things, tariff wars and global interest rate concerns, there are still signs that the situation is brightening.
"I see inflation coming down, I see interest rates coming down, I hear some more positive words. And then I think some of the issues around trade and tariffs – all of this stuff that has been hanging in the air for a long time – have calmed down," he says.
When I combine this with other impressions, I'm a little more positive.
“Stroller and life jacket”
However, when it comes to how Sweden and the rest of Europe compare to, for example, the USA and China, there are still some signs of concern according to the business profile.
This applies not least to the ongoing AI revolution, where EU regulations go further than corresponding legislation in many other places.
It is a very important and relevant question, says Jacob Wallenberg.
In the EU, we impose legal restrictions because we are afraid that something negative might happen. The US and China do exactly the opposite. This means that the chance of developing quickly in the US or China – or India for that matter – is much, much greater.
But don't you see any risks with AI?
It goes without saying that there are risks. There are risks with everything new. But if we are going to walk around with a crash pad and a life jacket on all day, we may not develop in the way we hope.
It's really a balancing act. And I understand that it's not easy for politicians who have to make these decisions. But I think Europe is going too far here.
Stock market worries about AI
The recent stock market turmoil surrounding AI stocks has led analysts to talk about a possible AI bubble. However, Jacob Wallenberg prefers to stay out of that discussion.
But it goes without saying that with new technologies it always takes a while before it balances out, with supply and demand, he says.
Right now there is high demand and then we will see a price development accordingly. Where it lands – how we will use AI in the longer term – that is what will really determine the price of AI in the future. But it will be a while before we get there.
