As part of the Davos Forum, the World Economic Forum’s “2023-2024 Impact Report of the Fourth Industrial Revolution Centers Network” has been published, evaluating the activities of member centers in areas such as artificial intelligence, energy transition, biotechnology, and the digital economy.

The activities of the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR), operating under the Ministry of Economy of the Republic of Azerbaijan, were specifically highlighted in the document. The report includes insights from Azerbaijan’s Minister of Economy, Mikayil Jabbarov, and C4IR's Executive Director, Fariz Jafarov, regarding the center's initiatives.

The report notes that C4IR, in collaboration with the World Economic Forum’s Center for Energy and Materials, has developed global solution concepts for applying artificial intelligence in the energy sector as part of the “AI Solutions in Energy” project. As part of this initiative, surveys were conducted with local experts, resulting in the creation of 40 solution concepts.

It was also stated that a pilot project based on these solution concepts has already been launched in Azerbaijan. This pilot project focuses on energy savings through the application of smart sensors and predictive artificial intelligence.

The document further highlights that C4IR and the World Economic Forum’s Investment Policy and Practice Platform jointly implemented a project titled “Attracting Investments into Azerbaijan’s Digital Economy.” Based on the results of the project, recommendations were developed, and future development directions for the digital economy were identified:

• Supporting the growth of local startups and SMEs and improving access to investment;
• Promoting the digital transformation of enterprises;
• Developing InvestTech tools, such as an investment calculator.

Additionally, the report mentions that the InMerge Innovation Summit, held in Azerbaijan last year with C4IR’s partnership, brought together more than 5,000 participants, over 50 international investors, and 150 startups, contributing significantly to the development of the country’s innovation ecosystem.

It should be noted that C4IR Azerbaijan was established by a decree of the President of the Republic of Azerbaijan on January 6, 2021, and is one of the 21 centers within the World Economic Forum's C4IR Network.