Clusters, Business Planning and Economic Growth: Stockholm’s Artificial Intelligence and Big Data Cluster

Clusters, which are examples of Porter’s diamond in action, may foster creativity. Regional economic development, innovation efforts, and clusters are interdependent. Artificial Intelligence and Big Data can perform activities at a higher level than humans. Recent studies indicate that they are gaining popularity because they can be used to collect, organize, and analyze vast, varied data sets in order to reveal hidden patterns and trends that may be applied to a number of problems. How can Stockholm’s Artificial Intelligence and Big Data cluster enhance its competitiveness in light of these factors? How can it be made more appealing? To address these research issues, qualitative research was undertaken using the case study approach and statistical data mostly gathered from the Global Competitiveness Report. Among the most important aspects of this article are the analyses of competitiveness, cluster performance, and main actors of the cluster. The study indicates that Stockholm, the capital of Sweden, has the potential to become one of the world’s largest proponents of Artificial Intelligence and Big Data, since it is far more developed than other cities. In addition, a strategy to strengthen the cluster’s competitiveness by stressing the implemented actions is proposed. This paper was co-financed by The Bucharest University of Economic Studies during the PhD program.