On February 28, 2024, the Digital Economy and Innovation Committee of the American-Azerbaijani Chamber of Commerce (AmCham Azerbaijan) convened a significant meeting centered around the theme "Transformation from Traditional to the Digital Economy: Achievements and Challenges for Azerbaijan."

During the event, Fariz Jafarov, the Executive Director of the Center for the Fourth Industrial Revolution Analysis and Coordination, delivered a presentation. He apprised the attendees of the ongoing transition to a digital economy within the country, elucidating key aspects of the Next Generation Economy Strategy. Jafarov also provided insights into the activities of 4SIM and various projects currently in progress.

The report highlighted that 4SIM, identified as one of the 22 regional centers affiliated with the World Economic Forum, engages in collaborative efforts in three key domains: artificial intelligence and machine learning, the Internet of Things and urban transformation, and digital trade.

A noteworthy mention was the success of the "4SI Academy" project in partnership with Coursera, aimed at advancing digital skills. To date, the training has positively impacted 4,000 citizens, underscoring the project's effectiveness.

Fariz Jafarov unveiled plans for the development of a pivotal document - the Next Generation Economy Strategy. This document, slated to outline the country's digital economy priorities for the period 2024-2030, encompasses nine main projects and approximately 70 initiatives. Special attention was drawn to projects such as Generative Artificial Intelligence in the Azerbaijani language, the Smart Industry Readiness Index (SIRI), the 4SIM chatbot utilizing artificial intelligence in legislative matters, and 4IR solutions implementation projects in sports, customs, agriculture, and education.

The meeting concluded with an interactive session where attendees had the opportunity to pose questions, fostering a dynamic exchange of information and insights.