Can AI promote the well-being of Finnish entrepreneurs?

According to Elo’s research, the biggest threat for the well-being of Finnish entrepreneurs seem to be the challenge of time management and the lack of supporting networks. This is one of the challenges hackers in 'Elo Data Science Hack' hackathon are set to solve.

“The aim of our hackathon is to help entrepreneurs flourish and maintain balance in their working life. As Finland’s most popular employment pension insurer, we feel passionate about Finnish entrepreneurs' well-being. We have over 85,000 customers and the only way to reach each and every one of them is with digital solutions. This also calls for a new kind of intelligent services,” said Satu Huber, CEO of Elo Mutual Pension Insurance Company.

According to Elo’s study, only 37% of entrepreneurs have managed to find a good work-life balance. The rest are at risk of losing this balance between free time and work. Especially young entrepreneurs are at risk to wear out.

“A startup mindset can be overwhelming at times. Hacking the hectic work life and finding new solutions that can improve entrepreneurs’ life and business can make a really big impact on a personal and societal level,” said Taneli Tikka, Head of Innovation Incubation, Tieto’s Data-Driven Businesses.

To make things more interesting, the hack teams will have access to Simularity’s innovative and unique artificial intelligence system, which uses temporal reasoning and deep learning to make sense of the data. Teams will be able to load any kind of data in the system for the AI to chew on. Another partner in the Elo Data Science Hack, M-brain grants access to their vast sources for media. Together with other data sources, it offers participants a unique data set to innovate with.

“The hackers get the opportunity to use a really advanced machine learning system and huge data set that has never been used in a similar way before. Human well-being is a very complex topic and thus precisely the kind of thing that can be solved with data, machine learning and artificial intelligence. We truly are making the future more intelligent with data”, said Tikka.

Elo Data Science Hack is an open challenge to all companies, university students and researchers. It displays three challenges to be solved in Espoo on 27-28^th October. Participating teams are asked to sign up before 5^th October.

The hackathon is supported by Tieto's strategic innovation programme Tieto Experience Hub. Tieto XHub has co-created several open innovation events, such as hackathons, with customers like Fazer, Cargotec and UPM. The event is part of a one-year innovation programme between Elo and Tieto.