All posts by Janice Gundersen

Microsoft Offers Legal Protection for AI Users in Copyright Cases

Business News, Technology

Microsoft says it will provide some legal safeguards to customers using its AI. 

The tech giant announced last week the launch of its Copilot Copyright Commitment, designed to protect artificial intelligence (AI) customers worried about possible intellectual property (IP) infringement.

“As customers ask whether they can use Microsoft’s Copilot services and the output they generate without worrying about copyright claims, we are providing a straightforward answer: yes, you can, and if you are challenged on copyright grounds, we will assume responsibility for the potential legal risks involved,” President Brad Smith wrote. 

Smith says this commitment goes beyond the company’s existing intellectual property indemnity support and builds on existing commitments. 

“Specifically, if a third party sues a commercial customer for copyright infringement for using Microsoft’s Copilots or the output they generate, we will defend the customer and pay the amount of any adverse judgments or settlements that result from the lawsuit, as long as the customer used the guardrails and content filters we have built into our products,” said Smith.

The announcement comes nearly a month following a ruling from a federal judge that artwork created by AI can’t be copyrighted.

Read full article

Clean Energy Investing in America

Automobile / Transport, Business News

The investment announced during this time period is equivalent to eight years’ worth of American clean energy investment, surpassing total investment into U.S. clean power projects commissioned between 2015 – 2022.

In the same period, 83 new utility-scale clean energy manufacturing facilities were announced, bringing an expected nearly 30,000 new American jobs. $4.5 billion in savings were also announced for over 24 million customers served by utilities building out more clean power.

Since federal clean energy incentives were passed last year, signs of rapid growth for maturing American clean energy industries are emerging. U.S. wind manufacturing plants that closed in recent years are bringing back workers. Plans for an unprecedented amount of new solar, battery, and offshore wind plants are being drawn and developed. The U.S. is in a position to secure our energy independence and become a global leader in the buildout of clean energy.

The new incentives offer companies significant opportunity to invest in new utility-scale wind, solar, and storage projects and manufacturing facilities, while passing on savings to American consumers.

Should currently announced manufacturing facilities reach operation, ACP estimates a nearly ninefold increase in solar module production and a more than fifteenfold increase in grid-scale battery storage, along with significant increases in production output for solar cells, polysilicon, ingots and wafers, blades, towers, and nacelles. 

If completed, these investments and projects will strengthen our energy independence, improve air quality, and support one million American clean energy jobs.

 

Norwegian prime minister visited Norway House, St. Olaf College during MN visit

Business News, Government

Norwegian Prime Minister Jonas Gahr Støre is set to visit Minnesota next week, making a stop at Norway House in Minneapolis and St. Olaf College.

On Sunday, Støre is scheduled to discuss a wide range of topics during a visit to Norway House in Minneapolis.

The fireside chat at Norway House is expected to cover the war in Ukraine, climate concerns, transitioning to clean energy and Norway’s alliance with the United States.

The event is free and open to the public, but organizers say ticket reservations are required and can be found here. Those without reservations might be turned away.

The discussion will begin at 1:30 p.m. Sunday at 913 East Franklin Avenue in Minneapolis and will be moderated by Tom Hanson, a diplomat in residence at the University of Minnesota-Duluth.

Read full article here

AmCham Financial Forum: The Rabbit, the Tortoise and Cross-Border Complexity

AmCham News

AmCham Financial Forum: The Rabbit, the Tortoise and Cross-Border Complexity

Cross-industry member leaders gathered at Sparebank1 SR Bank’s new Oslo offices for a morning Financial Forum focusing on transatlantic economic trends and TMF’s Global Business Complexity Index.

Sparebank 1 SR-Bank Chief Economist Kyrre M. Knudsen candidly led discussions on persisting international inflation impacts, EUR (“the tortoise”) / USD (“the rabbit”) / NOK (the undervalued) exchange rate indicators, and interest rate movements. US economic bellwethers were in focus, with participants contributing their unique industry perspectives.

Stavanger-based Knudsen, formerly with Equinor, Norges Bank, and the Ministry of Finance, is also a regular business media commentator in Dagens Næringsliv, Finansavisen and E24 among others.

Presenters

Kyrre M. Knudsen 
SpareBank 1 SR-Bank

Speaker Logos

 

Niels Didrich Buch
TMF

Speaker Logos (2)

Business Complexity – Norway and the US in Focus

Nordic Market Head Niels Didrich Buch presented TMF Group’s 2023 Global Business Complexity Index, which provides an authoritative overview of the complexity of establishing and operating businesses around the world. It explores factors driving the success or failure of international business, with a focus on operating in foreign markets, and outlines key themes emerging globally.

Focusing on the Norwegian market, Buch gave a summary of the intricacies that face companies here and what new hurdles may impact operations compared to some of our Nordic neighbors.

About the AmCham Financial Forum

AmCham’s collaborative Financial Forum enables cross-industry leaders to openly exchange and learn from their peers – building a better understanding of what it takes to maintain successful international operations in Norway.

Please contact Madeleine.brekke@amcham.no for interest in future meetings.

TMF Complexity Norway
TMF Complexity Norway 2

Previous Forums

US gains ground in electric vehicle readiness, but China and Norway remain out in front

Automobile / Transport, Business News
  • China retains its place at the top of the EV Country Readiness Index, remaining dominant in production and infrastructure
  • The US rises from seventh to third following increases in production, regulation to stimulate demand and investment in battery manufacturing
  • The UK remains fifth, behind Sweden in fourth

China has retained the pole position when it comes to progress toward an electric vehicle (EV) future, according to the latest EY Electric Vehicle Country Readiness Index. The Index looks at the preparedness of the top 20 vehicle markets for the arrival of EVs based on supply, demand and regulation. Norway remains in second place for the second year running, while the US, Sweden and the UK round out the top five.

Battery manufacturing and supply chain control remain key drivers for China leading the way, with China accounting for 74% of investment in battery manufacturing in 2022. Backed by soaring consumer demand – 58% of Chinese consumer respondents expect to buy an EV as their next vehicle, compared to the average of 41% across other markets – and investment in its charging infrastructure, China continues to lead the way on EVs, representing the largest EV market globally in absolute volume terms.

Norway, an early adopter of EVs, remains steady at number two in the ranking as the country’s EV adoption rate rises to 81%, the highest in the world. This owes to continued generous EV incentives and relatively high GDP per capita, meaning EVs are more affordable. In Norway, 83% of vehicles launched between 2022 and 2027 will be EVs, the highest in the world. Meanwhile, the US, Germany and Sweden retain their strengths in manufacturing, investment and consumer uptake.

Randy Miller, EY Global Advanced Manufacturing & Mobility Leader, says: “China and Norway have demonstrated that a potent mix of regulation to stimulate demand, combined with localized battery production and implementation of a robust infrastructure plan are critical factors in helping countries successfully transition to EVs. Now that demand is at sufficient levels in most of the countries in this study, it is up to OEMs and government to accelerate their efforts to expand EV production, investment and incentives.”

EVs making inroads in the US market

The US has risen sharply in the ranking, from seventh to third. Business has been a key driver of this rise with new innovations in car models and investment in battery manufacturing providing a greater supply and variety of EVs to the US market. This, combined with the greater affordability resulting from streamlined production and greater supply, has caused consumer demand to rise steadily. These significant steps forward by businesses have been backed up by government regulation. For example, the Inflation Reduction Act has introduced a federal tax credit of up to $7,500 for EVs assembled locally and purchased from December 2022 to January 2033. The US now accounts for 11% of EV production globally, behind only China which accounts for 55%.

Miller says: “The US is rapidly rising through the rankings due to businesses innovation and investment in EVs and the manufacturing capability to support them. This has in turn increased consumer choice and made EVs more affordable and more attractive options for consumers. This business-first approach has also been backed by friendly government regulation, providing a holistic approach which is preparing the US for the electric future.”

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Norway’s Offshore: Moving on

Business News, Shipping & Offshore

Norway’s decision in the early phase of the pandemic, in March 2020, to protect its petroleum industry by lowering taxes, maintaining production and investment activity in an economic setback, appears to pay off well. The strategy to renounce on short-term revenue, in order to safeguard industrial capacity and competence, showed positive results already in 2022, as output increased over the preceding years. The trend is likely to persist for several years.  

Norway shows commitment to the offshore oil and natural gas industry. In hindsight, lowering petroleum taxation was a wise move by two succeeding governments and mainstream politicians. Petroleum extraction is expanding. Revenue from oil and gas in 2023 is estimated at about US$100 billion, close to three times the average for the preceding decade. The petroleum activities provide jobs and industrial challenges, especially in coastal communities. The oil and gas revenues bolster Norway’s economy, although only a tiny fraction is spent directly over the budget. The rest, savings from oil and gas revenues, have made the world’s largest sovereign wealth fund.  

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A roadmap for the health industry

Business News, Health

How will Norway commercialise research and turn health into a green export success?

The roadmap for the health industry was released today by Ingvild Kjerkol, Minister of Health and Care Services, and Jan Christian Vestre, Minister of Industry, Trade and Fisheries. The roadmap includes 12 focus areas and 41 actions, which the two ministries have worked together with industry to identify.

Commercialising research

One of the focus areas is testing and piloting of novel health solutions.

“We will become better at commercialising research results and create industry. We want the state to contribute considerably more so companies have access to testing facilities, so they can develop their solutions. We will develop the catapult scheme for the health industry,” said Vestre.

Today there is no health catapult in Norway. SIVA, the Research Council of Norway and Innovation Norway will now investigate how the health industry can better utilise the catapult scheme.

“The health clusters are ready to contribute! Based on work we did in 2019 and 2020, Oslo Cancer Cluster, Norwegian Smart Care Cluster and Norway Health Tech have set up Health Catalyst, a national arena for developing, testing and piloting novel solutions in health. Among other things, we have signed an agreement to collaborate with Nortrials,” commented Ketil Widerberg, general manager of Oslo Cancer Cluster.

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Nordic AmChams & Politico: Centripetal and Centrifugal Forces

AmCham News, Government

Nordic AmChams & Politico: Centripetal and Centrifugal Forces

Brussels-based Politico Europe Editor-in-Chief Jamil Anderlini recently joined over 130 AmCham members from across the Nordics for an enlightening hour on the centripetal and centrifugal forces acting upon Europe, China’s economic outlook, transatlantic green transition collaboration, and journalism’s role in explaining democracy.

In his position, Anderlini oversees Politico’s journalistic coverage, shapes editorial strategy, and manages the day-to-day operations of the organization’s rapidly expanding European newsroom. His previous roles include Asia Editor, Assistant Editor, and member of the Editorial Board at the Financial Times. He has also served as the Beijing Bureau Chief for the Financial Times, Beijing Correspondent for the South China Morning Post, and Chief Editor of the China Economic Review.

Fresh Expert Perspectives

The meeting was the latest in AmCham’s joint-Nordics series – offering fresh, expert business perspectives from Finland, Sweden, Denmark, Norway, the US and beyond. Previous presenters include:

Peter Harrell, Senior Director for International Economics and Competitiveness on The White House National Security Council

  • Bridget Fawcett, Global Chief Strategy Officer for Banking, Capital Markets and Advisory at Citi
  • Hannah Hawkins, Principal in the Washington National Tax, Credits & Incentives Group at KPMG
  • Andrew Schwedel andHernan Saenz, Partners at Bain & Company
  • Steven L. Scully, former C-SPAN Political Editor

 We sincerely thank our friends at AmCham Sweden for arranging and virtually hosting us!

Norway’s conservative opposition wins local elections with nearly 26% of the votes

Business News, Government

COPENHAGEN, Denmark (AP) — Norway’s center-right opposition party has won local elections in the Scandinavian country, putting the conservatives of former Prime Minister Erna Solberg ahead of the governing social democratic Labor Party locally for the first time since 1924.

According to preliminary official figures released Tuesday with all votes counted, the conservative Hoeyre party received 25.9% of the votes in Monday’s elections, up nearly 6 percentage points from the last balloting in 2019 for local councils in Norway’s 356 municipalities and 11 counties. The Labor Party, headed by Prime Minister Jonas Gahr Støre, which ousted Solberg in 2021 national elections, came in second in the local vote with 21.7% of the ballots, down 3.1 percentage points from 2019.

Labor, which for decades was Norway’s largest party in local elections, had its worst results in nearly a century in Monday’s vote, making Hoeyre the largest party locally since 1924. It even surpassed Labor in Oslo, the capital.

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AmCham Defense Forum – Kick Off

AmCham News

AmCham Sustainability Forum: Plastics & Aviation

AmCham’s latest Sustainability Forum, hosted by NHO, brought together members representing diverse industries to learn about the NHO’s newly launched single-use plastic products partnership and from Avinor on how Norway is ideally suited as an international test arena for zero and low-emission aircraft.

 

Plastics and the Business Sector: The Norwegian Plastic Partnership

Andreas Pihlstrøm, lawyer at NHO and board member of the Norwegian Packaging Association, discussed the newly launched partnership between the Ministry of Climate & Environment and a number of business organizations to reduce the consumption of single-use plastic products. He illustrated how Norwegian businesses can take lead on the ambitious sustained reduction in the consumption of certain plastic products (SUP art. 4). Next is implementation of Extended Producer Responsibility (EPR) – setting legally binding goals and deadlines. 

He also presented on legal trends within plastics and shared resources for public access to information  and documentation on the different environmental acts and directives:

  • The Environmental Information Act, imposes a duty for companies to have and to give environmental information
  • The Transparency Act: Responsible business conduct in the supply chain, due diligence duties: Åpenhetsloven

Zero and Low Emission Aviation in Norway

Energy Transition Lead Erik By and Infrastructure & Drone Program Manager Terje Orskaug from Avinor unpacked Norway’s integral initiatives and political ambitions set in motion to advance the development of zero and low emission aviation in Norway. These include government actions, promising new technologies, and the creation of an ecosystem to facilitate innovation and establish Norway as an international test arena for new technologies. Furthermore, they discussed the government’s plans and ambitions laid out in the National Aviation Strategy 2023 and the National Transport Plan 2025-26. The aviation industry, with its high political and social importance, has established five main important work packages:

  • Market Dialogue
  • Airports, Infrastructure & Airspace
  • Energy Supply
  • Regulatory Sandbox
  • Communication & Knowledge Sharing
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About the AmCham Sustainability Forum

Future success is dependent upon running a sustainable business – for people, planet, and profit. Hence, since 2018, AmCham has brought select, cross-industry member company representatives together to discuss opportunities, facilitate open exchange and determine how AmCham members can best contribute to Norwegian and US sustainability agendas going forward.

Read more about our Sustainability Forum and please contact Janice.Gundersen@amcham.no for interest in future meetings.