Azerbaijan intends to invest in artificial intelligence

Azerbaijan plans to reach a value of $40 billion with the help of artificial intelligence by 2040.

Deputy Minister of Economy of Azerbaijan Elnur Aliyev stated that investments in artificial intelligence are a strategic goal, and said: "We aim to create $40 billion in value by 2040 thanks to artificial intelligence. Artificial intelligence will increase our productivity and maintain the stability of our workforce."

The 8th Istanbul Economic Summit, which is attended by business leaders, scientists, officials and representatives of various sectors of the economy from Turkey and many countries of the world, continues.

More than 1,500 visitors attend the event, which this year is organized with the main theme "Artificial Intelligence and Economics" and with the participation of representatives from more than 20 countries such as Azerbaijan, the United States, Belgium, the United Arab Emirates (UAE), India, Switzerland, Denmark and France.

Speaking at the summit, which aims to comprehensively consider the future of sectors such as digital transformation, sustainable development, energy, defense industry, tourism and automotive, as well as the impact of artificial intelligence on the economy, Elnur Aliyev spoke about Azerbaijan's plans in the field of artificial intelligence.

Stating that investing in artificial intelligence is a strategic goal and that they continue to invest in this area, Aliyev said: "By 2040, we intend to generate $40 billion in value through artificial intelligence. This corresponds to 2.5 billion dollars per year. Artificial intelligence will increase our productivity and keep our workforce stable."

According to Aliyev, they support 600 companies in the field of artificial intelligence in Azerbaijan and continue to work to support more companies.

Speaking about the importance of global cooperation in the field of artificial intelligence, Aliyev said: "We must increase our cooperation in the field of artificial intelligence. I invite you to explore the possibilities here together."

"Artificial intelligence opens up great opportunities to increase transparency,"

Deputy Minister of Economy, Culture and Innovation of Albania Blerta Rama, on the other hand, said that relations between Turkey and Albania have very deep ties, and said: "We are here to create meaningful dialogues and opportunities for cooperation."

Explaining that she and Turkey have common goals in terms of commitment to the goals of sustainable development in the region, Rama spoke about possible opportunities for cooperation in the field of artificial intelligence.

Speaking about their view on artificial intelligence, Rama said, "We will continue our investments in this area. Artificial intelligence opens up great opportunities to accelerate the provision of public services and increase transparency."