Baku – At the Chain Reaction 2024 forum held today in Baku, Azerbaijan is setting the stage to significantly expand its digital and economic landscape through substantial AI and digital economy initiatives, as revealed by Fariz Jafarov, Executive Director of C4IR Azerbaijan.
According to Trend News Agency, during the “Diving into the digital and metaverse economy” panel, Jafarov outlined a comprehensive strategy for Azerbaijan’s digital economy, developed last year, which is now complete. This strategy includes 51 key initiatives aimed at enhancing skills, modernizing infrastructure, and digitalizing businesses, all slated for implementation by 2030. “These initiatives are designed to transform our national economy, leveraging the Industry 4.0 framework,” he stated.
Jafarov also highlighted the plans to introduce large AI language models in Azerbaijan, with the ambitious goal of creating a digital twin project of the country to optimize economic insights and value creation. “This digital twin will act as a pivotal tool in understanding and enhancing our economic dynamics,” he added.
The continuous education of citizens is another major component of Azerbaijan’s digital transformation, with plans to involve 650 companies in digital transformation initiatives and Industry 4.0 projects. Jafarov shared insights on the government’s support for upskilling the workforce, including funding international certifications to swiftly build a qualified labor force.
The collaboration extends to academia and global tech giants, with significant partnerships underway. “In collaboration with Google, we are developing GIS programs, and with Apple, we are initiating projects to establish four certification centers at universities, which will facilitate practical training and certification for students,” Jafarov noted.
Azerbaijan’s proactive approach to embracing digital innovations includes opening one of the 22 global C4IR centers, confirming its active participation with the World Economic Forum. Jafarov elaborated on various AI projects underway in sectors like energy and sports, emphasizing AI’s role in enhancing wrestling techniques and strategies.
Moreover, Jafarov touched on the burgeoning fields of cryptocurrencies, blockchain, Web3, and the metaverse, underscoring their essential roles in shaping the future digital economy. “Our partnership with Binance is focused on elevating awareness and education about cryptocurrencies and blockchain, along with developing university projects geared towards Web3,” he concluded.
The Chain Reaction 2024 forum, spanning two days, explores a range of topics including blockchain utility, crypto innovations, and the transition of traditional banking systems to Web 3.0, showcasing Azerbaijan’s commitment to becoming a hub for digital innovation and economic transformation.