World Economic Forum reports on launching Centre for Fourth Industrial Revolution in Azerbaijan

Azerbaijan’s Economy Ministry in partnership with the World Economic Forum has held the inaugural launch of the Centre for the Fourth Industrial Revolution (C4IR) in Baku, Report informs referring to the WEF website.

The launch will engage critical national and international stakeholders, to discuss the impact of emerging technologies such as Artificial Intelligence and Internet of Things on the economy of Azerbaijan and the importance of multistakeholder cooperation in technology governance.

Azerbaijan’s Economy Minister Mikayil Jabbarov said that one of their goals is to strengthen the position of Azerbaijan in the Fourth Industrial Revolution, which is changing trends in the global economy and the rules of competition, and to be among the leading countries in this field.

“In this regard, cooperation with the World Economic Forum and its Fourth Industrial Revolution Network is successful continuation of efforts in this area. The launch of the Centre for the Fourth Industrial Revolution Azerbaijan, which is among a very few corresponding Centers in the world, is of very special importance,” he said.

The minister noted that within the framework of this cooperation, C4IR Azerbaijan will contribute to the rapid application and mastering of advanced technologies, assurance of their service to citizens and the public interest, development of the digital economy, and further improvement of research and development area in the country.

C4IR Azerbaijan is hosted by the Center for Analysis and Coordination of the Fourth Industrial Revolution within the Ministry of Economy, Government of Azerbaijan. The center’s initiatives aim to co-ordinate with public, private-sector partners and academia to design and test policies, as well as regulatory frameworks. This will contribute to creating more opportunities and providing stakeholders various benefits from the key technologies of the Fourth Industrial Revolution and will also reduce related risks.

“The rapid advancement of technology is reshaping industries, challenging existing regulatory frameworks, and redefining fundamental aspects of our everyday life. As a part of the Centre for the Fourth Industrial Revolution Network, Azerbaijan will have a critical role in enabling innovative transformations in a sustainable, resilient, and inclusive manner” said Børge Brende, president of the World Economic Forum, on the occasion of the launch.

The Fourth Industrial Revolution has led to technological breakthroughs in many fields, including artificial intelligence and machine learning, IoT and robotics, 3D printing, nanotechnology and biotechnology, among others.

The Forum’s global network is a platform for multi-stakeholder collaboration, bringing together public and private sectors to maximize technological benefits to society while minimizing the risks associated with 4IR technologies.

C4IR Azerbaijan is part of the network of 16 centers that spans across four continents.