“Ireland offers compelling opportunities for organizations rooted in AI and technology, creating a vibrant ecosystem conducive to innovation and growth.”
Hi Brian, welcome to CIO Influence interview series. Please tell us a little bit about IDA Ireland and your role.
IDA Ireland is the Irish government agency responsible for attracting foreign direct investment to Ireland. About 1,800 multi-national companies have chosen Ireland for global operations, including more than 900 U.S.-based companies and the biggest names in tech, like Apple, Microsoft, AWS and others. IDA Ireland operates eight U.S. offices, which allows them to work with companies at a time and place that’s convenient for them.
I am the executive vice president and director North America for IDA Ireland. I guide companies in their overseas expansion journey and help them take full advantage of everything Ireland has to offer. I am based in IDA Ireland’s New York office and oversee offices in Boston, Chicago, Atlanta and Austin as well as California-based Irvine, Mountain View and Seattle.
How has the technology landscape in Ireland evolved in the last 2-3 years?
The biggest change in the last two years has been the development of AI and Quantum. I think up to this point, they were not as pervasive, but now these technological developments have become front and center. Companies are recognizing the central importance of AI and thinking about how they plan to implement an AI strategy or how to manage their AI offering. Beyond technology, other sectors such as life sciences, advanced manufacturing and financial services have also become central to the development of AI and quantum.
To be in lockstep with the evolving landscape, the Irish Government produced an AI strategy at the end of last year, which has several initiatives in place to recognize the importance of AI in business.
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What impact is Ireland’s growth having on the whole of Europe?
Although Ireland is a small economy in comparison to the rest of Europe, we do have a strong voice in terms of key issues such as digital regulation and tax policy.
The geopolitical issues in Europe such as the conflict in Ukraine, inflation along with recessionary pressures is affecting economic growth. However, Ireland has a fast-growing economy, and we’ve maintained the highest growth rate in the EU and picked up market share. When companies are looking to invest in Europe, Ireland does have a strong voice on key issues and within key business sectors.
How has IDA Ireland been successful in attracting business to set up operations in Ireland?
Ireland has been highly successful in attracting FDI and possesses some key advantages that have long been attractive to multinational companies. For example, being a member of the EU and having English as the primary language creates a favorable business environment and is one of the biggest reasons businesses set up their operations in Ireland.
Additionally, Ireland has a rich history of hosting multinational companies for over 70 years, establishing a track record of success. Ireland has developed strong industry clusters in key sectors such as Life Sciences, Technology and Financial Services demonstrating not only operational capacity but also a culture of innovation. These clusters are supported by a robust ecosystem that provides valuable resources and assistance to businesses. This combination of industry expertise, innovation, and a supportive environment makes Ireland an appealing destination for companies.
Another significant factor contributing to Ireland’s success is its openness to talent. While many countries have become more inward-looking in managing their borders, Ireland remains welcoming to individuals from both the EU and beyond. The country has streamlined processes for fast-tracking talent, enabling companies to access a skilled workforce efficiently. Ireland offers a friendly and safe environment for professionals, with consistent support from the Irish government. In short, international companies can build out AI teams in Ireland due to the wealth of talent.
What sets Ireland apart from other countries as an attractive location to conduct business?
Ireland is set apart from other countries in the government’s commitment to AI and emerging technologies. The government has developed a national AI strategy called “AI for Good” that recognizes the significance of AI for governments, industries, and consumers. To support this strategy, Ireland has appointed an AI ambassador to influence policy development at all levels.
The Irish government has allocated research funds such as the Digital Transition Fund and the Disruptive Technology Fund, demonstrating its dedication to encouraging investment in AI, quantum, and other innovative industries. These funds provide incentives for both research centers and companies to engage in cutting-edge research and development.
Ireland boasts several renowned research centers, including the INSIGHT Center and the CEDAR Institute, which are at the forefront of AI research and collaboration with businesses. Through initiatives like grants and connecting companies with the research community, IDA Ireland has actively supported companies interested in conducting AI research, leading to tangible results.
The availability of research funds, support for innovative research, and collaboration with leading research centers contribute to Ireland’s appeal for businesses seeking to leverage AI and related fields.
How does IDA Ireland support the development of technological innovation, and what kind of initiatives is the government implementing to keep Ireland at the forefront?
IDA Ireland supports technological innovation through strategies that align with the changing dynamics of FDI, such as supply chain optimization.
IDA Ireland acknowledges the growing trend of remote working and the hybrid approach adopted by many companies when expanding into new locations. They actively collaborate with companies to establish remote hubs in Ireland, leveraging the advantages of remote work and offering cost savings. To facilitate this, IDA Ireland has created an environment that supports remote and hybrid work by ensuring reliable broadband infrastructure and necessary supporting facilities.
On the manufacturing front, IDA Ireland has recently opened a state-of-the-art digital manufacturing center in Limerick. This center serves as a game changer for manufacturing in Ireland, particularly in the life sciences industry. It provides companies with an opportunity to experiment with future technologies outside their own manufacturing environments, access the best expertise, and train their staff in new manufacturing areas. The knowledge and expertise gained can then be applied back into their own operations facilities.
This digital manufacturing center is directly funded by IDA Ireland and is available to all their manufacturing clients, reinforcing their commitment to supporting technological advancement and innovation in Ireland.
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What opportunities does Ireland afford organizations routed in AI and technology?
Ireland offers compelling opportunities for organizations rooted in AI and technology, creating a vibrant ecosystem conducive to innovation and growth. Within a small geographical area, there is a cluster of multinational companies heavily investing in AI, quantum, and other technologies. This concentration allows for collaboration and knowledge-sharing among companies, fostering a creative and innovative atmosphere.
In addition to its multinational presence, Ireland has a thriving ecosystem of small startup companies operating in these fields. This diverse mix of companies, both large and small, contributes to the dynamic and collaborative environment, further stimulating creativity and idea generation.
Organizations in Ireland also have access to a supportive research center ecosystem. This enables them to tap into cutting-edge research, leverage the expertise of renowned institutions, and collaborate on innovative projects.
IDA Ireland provides various support to organizations, including grants and assistance from Science Foundation Ireland. Moreover, being in Ireland offers the advantage of being within Europe, allowing companies to avail themselves of EU grants and collaborative opportunities. This opens a wider canvas for research, innovation, and funding possibilities.
For U.S. based companies, Ireland serves as an ideal entry point into the European market, enabling them to access EU grants and participate in European collaborations. As Europe has gained increasing attention for research and innovation, particularly in comparison to Asia, there are significant opportunities for U.S. companies to explore and benefit from the incentives and supports available.
Overall, Ireland presents a favorable environment for organizations rooted in AI and technology, offering a thriving ecosystem, collaborative opportunities, access to research centers, and the advantages of being within Europe. It is an opportune time for U.S. companies to consider Ireland as a strategic location to tap into the resources, grants, and collaborative potential available in Europe.
Looking ahead, what are a few emerging trends in AI and other technologies that will have the biggest impact in attracting business to Ireland, and how is your organization preparing for these changes?
In terms of emerging trends in AI and other technologies, there is the need for effective policy and regulation. While AI has immense potential, it also carries risks, requiring careful management to ensure it benefits society. Ireland recognizes the importance of striking a balance between societal welfare, business interests, and regulatory frameworks. This focus on responsible and ethical AI aligns with the broader trend in Europe, where policy and rules are being developed to govern AI technologies.
To prepare for these changes and support businesses, IDA Ireland actively collaborates with companies in various projects that involve AI, even if AI is not the sole focus. They provide ongoing support for such initiatives, working closely with the government’s AI strategy. Additionally, IDA Ireland acts as a bridge between the European Union and the United States, leveraging their strong ties with U.S. companies to contribute to policy and regulatory discussions at the EU level.
What initiatives are you planning to take soon to encourage inward investments into Ireland?
Looking ahead, IDA Ireland aims to continually enhance its clusters in technology, financial services, and life sciences, ensuring they remain competitive and conducive to innovation. They prioritize factors like talent availability, cost competitiveness, and a favorable environment for investment and innovation. The organization stays abreast of future trends, such as AI and quantum technologies, anticipating their potential impact and the opportunities they may bring. By remaining consistent, proactive, and aware of emerging trends, IDA Ireland strives to maintain its strong reputation and attract inward investment into Ireland.
What’s your advice to all tech CEOs and business leaders looking at Ireland to expand operations?
To all tech CEOs and business leaders considering expanding operations, my advice is to actively engage with Ireland. Ireland is particularly well-suited for companies seeking rapid scalability and the ability to efficiently manage diverse markets and complex operations. By engaging with us, you can explore the possibilities and advantages that Ireland brings to your organization.
Additionally, the country has a remarkable success story in attracting tech investments and an environment that offers significant advantages. When you choose Ireland, you not only benefit from what the country has to offer but also contribute to its growth and development. We are eager to have conversations with tech CEOs to understand their specific needs and demonstrate how Ireland can be advantageous for their business. Furthermore, we can facilitate meetings with other peers who have already invested in Ireland, allowing you to gain insights into their experiences and discover the potential benefits for your own operations.
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Thank you, Brian! That was fun and we hope to see you back on cioinfluence.com soon.
[To participate in our interview series, please write to us at sghosh@martechseries.com]
Brian Conroy is a Executive Vice President and Director of North America at IDA Ireland, the Irish government agency responsible for business development and investment into Ireland. Conroy is based in IDA Ireland’s New York office and oversees offices in Boston, Chicago, Atlanta and Austin, as well as California-based offices Irvine and Mountain View.
Ireland continues to win international investments from global corporations because it is seen as a business location where the workforce, as well as being highly qualified, has a unique capacity to improve, to innovate and to initiate new ideas, new processes and new ways of working that can make business more dynamic, more efficient and ultimately more profitable. Ireland’s inward Investment Promotion & Development agency, IDA Ireland (Investment Development Agency) is responsible for the attraction and development of foreign investment in Ireland. Today, Ireland is home to companies such as, Facebook, Sanofi, Intel, Yahoo, Adobe, Microsoft, SAP, Liebherr, HP, Apple, LinkedIn, Zalando, Deutsche Bank, Google and Amazon.com, to name just a few. 1,700 overseas companies have chosen to invest in Ireland as their European base and are involved in a wide range of activities in sectors as diverse as engineering, information communications technologies, pharmaceuticals, medical technologies, financial and international services.
