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AI in FDI - Invest Estonia Reaps Benefits from E-advisors

The country’s IPA adopted artificial intelligence tools early on to attract investment, by Seth O'Farrell, fDi Intelligence.

During the pandemic, Estonia’s investment promotion agency (IPA) unveiled various tools, including a chatbot and an e-advisor, to keep the investment process moving. Now, its suite of tools makes it a first mover in an industry typically adverse to digital disruption.

Originally launched in 2020 to help with providing citizens with information about the Covid-19 pandemic, chatbot Suve now serves as a point of contact with prospective investors.

Another tool, e-advisor Eia, came into its own when the borders were closed as it offered online site visits. It works as an investment advisor that creates value propositions, detailing where, how and in which sectors to invest in Estonia.

Joonas Vänto, director of Invest Estonia, tells fDi that “our main motto is to find the best tools that use automation that save energy and time for our staff”.

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