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Swedish Finance Leader Marcus Wallenberg Urges Innovation for Europe’s Business and Military Competitiveness

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publicerad 30 januari 2025
- News@NewsVoice
Marcus Wallenberg
Marcus Wallenberg

Recently, Marcus Wallenberg, a prominent figure in Swedish industry with significant roles in The Royal Swedish Academy of Engineering Sciences, Wallenberg Investments, and SAAB, spoke during a conference arranged by People and Defense on Europe’s and Sweden’s military and security policies, crisis preparedness, and business competitiveness. The focus of the speech was AI and Russia.

The organization People and Defense (Folk och Försvar) was established in 1940 to build a bridge between society and defense. At the onset of World War II, its founders recognized a need for an increased understanding of defence policy among Swedish citizens.

People and Defense boasts over 100 member organizations, including defence groups, political organizations, civil society organizations, trade unions, and Swedish business and trade representatives. Participation in the conferences requires a personal invitation.

In a thought-provoking speech, Marcus Wallenberg called for deeper integration of innovation with defence strategies to bolster Sweden’s and Europe’s security and competitive edge.

Wallenberg began his address by recalling his commitment from two years prior, emphasizing that the business sector must take responsibility for advancing both civilian and military defences in Sweden and across Europe. He drew upon Winston Churchill’s wisdom on the importance of preparation, asserting that readiness is key to success in today’s complex and interconnected global landscape.

Highlighting the need for vigilance, Wallenberg discussed how Europe has lagged in competitiveness compared to powerhouses like China and the United States. He cited China’s long-term industrial strategies impacting sectors such as telecommunications and solar energy and the U.S.’s aggressive investment in technology through initiatives like the Chips Act and DARPA.

”Innovation, security, and competitiveness are inextricably linked,” Wallenberg stated.

He was underlining that innovation is beneficial and essential for maintaining economic prosperity and resilience in a small, export-reliant country like Sweden.

Innovation and security

He further explored the seemingly paradoxical relationship between innovation and security. While innovation thrives on openness, collaboration, and a tolerance for failure, security often demands control and caution. However, Wallenberg argued that these elements must find ways to coexist.

He provided compelling examples, such as the global COVID response and the war in Ukraine, to illustrate his point.

The rapid development of vaccines, mainly through collaborations between AstraZeneca and the University of Oxford, showcased how robust research, computational power, and global cooperation could swiftly address a global health crisis.

SAAB ASC 890
The Swedish fighter command and control aircraft SAAB ASC 890 is used in Ukraine to combat Russia. Photo: Swedish Defence

The War in Ukraine

The conflict has demonstrated the significant role of technology, particularly in drone and missile technology, where civilian innovations have been leveraged for military purposes. Despite limited resources, this ”dual-use” approach has allowed for innovative warfare tactics.

Wallenberg’s speech was a call to arms for technological advancement and a reminder of the need for strategic foresight. He pointed out ongoing European efforts, including the forthcoming ”Clean Industrial Deal” from the EU Commission, as steps in the right direction but stressed the necessity for more comprehensive strategies.

He encouraged Sweden to harness its innovative capabilities to enhance its defence mechanisms and economic standing on the world stage. ”We can do this,” he affirmed, referring to the recent showcase of advanced drone technology developed by Saab in collaboration with the Swedish Armed Forces as an example of what can be achieved when innovation meets security needs.

Wallenberg’s address has sparked discussions on how Sweden and Europe can better prepare for future challenges, both in terms of security threats and economic competition, by fostering an environment where innovation and security are not just aligned but mutually reinforcing.

 

Sources

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