The World Economic Forum’s “2023-2024 Impact Report of the Fourth Industrial Revolution Centers Network,” published during the Davos Forum, evaluated the activities of member centers within the network in areas such as artificial intelligence, energy transition, biotechnology, and the digital economy.
The activities of the Fourth Industrial Revolution Analysis and Coordination Center (4SIM), operating under the Ministry of Economy of the Republic of Azerbaijan, were specifically highlighted in the document. Insights from Azerbaijan's Minister of Economy, Mikayil Jabbarov, and 4SIM’s Executive Director, Fariz Jafarov, on 4SIM's initiatives were also included.
The report noted that, within the framework of the "AI Solutions in Energy" project, implemented jointly by 4SIM and WEF’s Energy and Materials Center, global solution concepts for the application of artificial intelligence in the energy sector were developed. As part of this initiative, surveys were conducted with local experts, resulting in 40 solution concepts.
It was also highlighted that a pilot project has already been launched in Azerbaijan based on these solution concepts. The project aims to save electricity through the use of smart sensors and predictive artificial intelligence.
Additionally, the report mentions a joint project by 4SIM and WEF’s Investment Policy and Practice Platform titled "Attracting Investments in Azerbaijan’s Digital Economy." Based on the project outcomes, recommendations were developed and future directions for growth in the digital economy were identified:
- Supporting the development of local startups and SMEs, and improving access to investment;
- Assisting the digitalization of enterprises;
- Developing investech tools, such as an investment calculator.
The document also highlights the InMerge Innovation Summit held in Azerbaijan last year in partnership with 4SIM. The event brought together over 5,000 participants, more than 50 international investors, and 150 startups, contributing significantly to the development of the country’s innovation ecosystem.
It should be noted that 4SIM was established by a Decree of the President of the Republic of Azerbaijan dated January 6, 2021. 4SIM is one of WEF’s 21 existing centers globally.
