Dec 14, 2023 — blog

Efficiency at work: bridging the gap between science fiction and reality

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By admin

Written by Anders W. Botten, Financial Manager at RunwayFBU

In my two decades of work experience, I’ve witnessed that industry and corporates are lagging far behind advanced B2C applications and tools. Despite corporates and workforce striving to work smarter through automations to enhance efficiency, there is a noticeable gap. Reflecting on the past ten years, most tasks continue to be executed in a traditional and iterative manner. Thinking about it makes me envision the potential of a smart-IT-assistant, doing and automating all non-value adding tasks, perhaps even addressing them before I even think about them.

With the innovative speed and milestones achieved over the last years, particularly with the break-throughbreakthrough in AI, this can very well become a reality in the near future. Our work has already been impacted significantly and experts are discussing the potential opportunities and threats - yet the ultimate outcome remains uncertain. What is guaranteed, however, is that AI-powered tools will influence the future world, steering it in both new and unexpected directions.

I am experiencing this firsthand within the Aker Group of companies – the remarkable influence of AI enhanced productivity methods across various sectors as Energy, shipping, manufacturing, and climate change. My role in RunwayFBU, focusing on investments in early-stage industrial software, has further increased my excitement about the future of how work productivity is now being reshaped. As I now look at the next two decades, I am genuinely excited about these new developments and opportunities.

The role that software will play in reshaping work productivity

Since the adoption of computers, software development has been pivotal for enhancing operational efficiency. Consider, for instance, the evolution in Excel from its initial versions in the mid-1980s to its current comprehensive offerings– with advanced features and soon to also include co-pilots introducing the next level of smartness to all. The transformative impact of software on work productivity is enormous and Excel is just one out of thousands of examples where software is improving how we work, covering the broadest range of needs.

With ChatGPT, previous incremental improvements are expected to continue exponentially, positioning innovation as the catalyst for development and global economic growth. I anticipate that combinations of artificial intelligence, software innovation and digitalization will significantly accelerate innovation in the coming years within Industry. Specifically, we believe the following sub-categories to include future winners in the space:

  • Decision Intelligence: to elevate decision-making with cutting-edge tools and digital intelligence, empowering rapid analysis and strategic insights for agile responses.
  • Smart Automation: to revolutionize operational efficiency through intelligent automation solutions, dynamically adapting to evolving tasks and unlocking new realms of productivity.
  • Synergistic Collaboration: to cultivate a culture of innovation within administrative workflows, leveraging digital platforms that seamlessly integrate collaboration, fostering creativity and problem-solving.
  • Futuristic Administration: to redefine administrative processes with state-of-the-art digitalization, creating an adaptive and future-ready framework for managing tasks, data, and operations.
  • Predictive Analytics: to harness the power of predictive analytics to anticipate trends, optimize resources, and proactively address challenges, ensuring a forward-looking and proactive approach in administrative operations.

    Examples from RunwayFBU’s Portfolio:

    Adminkit: Simplifies administrative work for SMEs, allowing them to focus more on core business tasks and improve overall work productivity.

    CuttingRoom: Streamlines the video editing process by enabling fast, easy, and collaborative editing, enhancing productivity in media production.

    Shapemaker: Automates complex civil engineering analysis for telecom infrastructure, saving months of manual review work and enhancing productivity.

RunwayFBU: Supporting founders innovating the solutions of tomorrow

At RunwayFBU, we support entrepreneurs envisioning the innovative solutions of tomorrow. As an early-stage venture capital firm, we provide more than just financial backing. Our commitment includes providing portfolio companies with access to distinctive resources within the Aker group and an extensive international network. If you believe that we can play a pivotal role in your journey to success, we encourage you to reach out, as future opportunities have no limits.

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