Considition 2024 – in collaboration with Ikano Bank

Considition is Consid’s annual autumn hackathon, where participants are challenged to solve a sustainability-related problem using AI and Machine Learning. The challenge and the co-hosting partner change from year to year, but the goal remains the same: to create solutions that drive real impact.

Considition is open to everyone – whether you’re a first-year student or a senior developer, working in the private or public sector, located in Sweden or abroad, competing from home or at one of our Swedish offices. Participants sign up in teams of one or two, and Consid provides introductory materials, articles, podcasts and videos covering the technical skills needed to build a solution.

The 2024 challenge centered on the finance and lending industry. Teams stepped into the role of Ikano Bank and were tasked with building an algorithm to automatically assess loan applications. The competition consisted of several stages with increasing complexity – such as identifying high-risk customers, short-term financial risks, and navigating scenarios like a “healthy economy.”

The goal was to develop a working model using AI and Machine Learning that could evaluate financing and lending decisions while maximizing sustainable impact across three dimensions: ecological, social, and economic. The premise was to optimize financial decision-making through AI and ML, aligned with Ikano Bank’s business philosophy:

We create opportunities for a better life by offering simple, fair and affordable services that enable sound finances for many people and businesses.

Just like in previous years, Considition 2024 made a real difference by exploring sustainable and innovative AI solutions. It was the seventh edition of the hackathon, hosted by Consid. Over the years, we’ve partnered with organizations such as Budbee, triathlon company IRONMAN, drone startup GLOBHE, and property developer Riksbyggen. The theme has changed each year, but the mission has always been the same: to use AI to build a more sustainable society.

Considition 2023 was carried out in close collaboration with Coca-Cola in Sweden, with a focus on the future of sustainable beverage consumption. A big thank you to all participants – and especially to Coca-Cola in Sweden.