Unlocking Investment Opportunities in Latvia’s AI Ecosystem

Latvia is quickly establishing itself as a key investment hotspot for the AI industry, strategically located in the Baltics with access to European and Scandinavian markets. The country offers a highly skilled, multilingual workforce with strong expertise in AI and ICT, bolstered by government initiatives that foster innovation and collaboration. With advanced 5G testbeds and a commitment to digital transformation, Latvia creates a supportive environment for AI-driven business development.

This roundtable discussion will focus on fostering growth and innovation in the AI sector while highlighting opportunities within the current ecosystem, including the potential establishment of an AI Center of Excellence in Latvia.

Outcomes of the event

• Identified Growth Opportunities: Pinpointing specific areas for targeted investment and development within Latvia’s AI ecosystem.
• Actionable Recommendations: Offering practical suggestions for policy and industry practices to better support the AI sector.
• Talent Development Strategies: Developing clearer pathways for nurturing and retaining AI talent.
• Framework for AI Center of Excellence: Strengthening the foundation for the ongoing initiative towards an AI Center of Excellence in Latvia 

Key Discussion Topics

• Ecosystem Highlights: Exploring the achievements and prospects presented by current members and investors within Latvia’s AI ecosystem.
• Industry and Government Collaboration: Understanding expectations from industry players and how government support can facilitate innovation and growth in the AI sector.
• Talent Development: Exploring the role of academic institutions and private sector initiatives in building a robust talent pool for AI.
• Investment Trends: Discussing where investments in AI will be directed over the next 3-5 years and the key decision-making enablers.
• Best Practices: Sharing insights from AI excellence centers in other small countries.
• Community Insights: Gathering insights from participants on recent experiences, such as key takeaways from the Baltic AI Hackathon.