Today, digitalization is advancing at a dynamic speed and has an impact on national economies and societies in many ways. We can confidently state that information and communication technologies (ICT) have entered a new stage of development and have the power to transform all areas of our lives.

 

The experience of advanced countries also shows that the digitalization process positively affects the economy by opening new jobs, improving the quality of life, increasing productivity, ensuring transparency, as well as contributing to the development of small and medium enterprises.

 

But what is Digital Economy? The digital economy is a global network of economic activities based on computer technologies, resulting from the billions of daily internet connections between people, businesses, devices, data, and processes. It is changing the Economy as we know it. What distinguishes the digital economy from the traditional economy is that it is an economy based on concepts such as digital technologies, which include Machine Learning and Artificial Intelligence, the Internet of Things, Big Data, AR (Augmented Reality), and VR (Virtual Reality), etc.

 

In recent times, the scope of the digital economy has been expanding at an unprecedented rate, and it is penetrating almost all areas of economic activity at different rates. In this regard, several important tasks arise in front of us to strengthen the positive effects of digitalization on our economy and society and to advance this process sustainably.

 

Digitalization of the economy, the establishment of the digital economy, and the application of innovations are priority issues for Azerbaijan. The favorable geographical position and human potential of the country, as well as state programs, decrees, and orders adopted by Mr. President Ilham Aliyev in recent years, create all conditions for this.

 

The measure "Development and implementation of the strategy for the development of the digital economy" is reflected in the "Socio-economic Development Strategy of the Republic of Azerbaijan in 2022-2026". The preparation and implementation of the said strategic document were assigned to C4IR.

 

The preparation of the Digital Economy Strategy document will serve to form a sustainable and competitive digital economy in the country, to make Azerbaijan one of the leading countries in the relevant field, and to measure and develop the digital economy in a coordinated manner. In addition, the document in question will be a national strategy document that will define development directions for all components of the digital economy, including digital infrastructure and services, legislation in the relevant field, availability of financial resources, and development of digital skills. At present, we continue our work on the preparation of the document.

 

In addition to all these processes, C4IR is constantly working to assess the effects of the digital economy on the country's economy and apply advanced methodologies in this field to strengthen the positive effects of digitalization on our economy and society and to develop this process sustainably.