BAKU, Azerbaijan, March 5. Artificial intelligence (AI) is predicted to bring nearly 70 billion manat ($41 billion) of new added value to the Azerbaijani economy by 2040, Executive Director of the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR) under the Ministry of Economy Fariz Jafarov said at a forum titled “Looking to the Future in the Tax System: New Governance Model and Data-Driven Decisions” in Baku, Trend reports.
"The leading driver and technology of the 4th Industrial Revolution is AI. Artificial intelligence is projected to have an impact of $22 trillion on the global economy by 2040. If we make a similar calculation for Azerbaijan, it's predicted that AI will create approximately 70 billion manat of new added value for the country's economy by 2040. This means that by applying artificial intelligence technologies in various fields of industry, we can save money, increase efficiency, and use resources more efficiently," he noted.