Baku:Azerbaijan’s Ministry of Economy has signed a framework cooperation agreement with IE University to establish and develop an Artificial Intelligence Observatory aimed at enhancing competitiveness and driving economic transformation in the country.
According to Azeri-Press news agency, Deputy Minister of Economy Samad Bashirli disclosed this initiative during the opening ceremony of the Leadership and Innovation Center of IE University, which was established with support from the Ministries of Economy and Science and Education.
The Observatory is set to unite academia, government institutions, and businesses to foster knowledge that will aid in Azerbaijan’s economic development and inform policy decisions. Its research will concentrate on economic diversification, productivity, competitiveness, and international comparisons, allowing Azerbaijan to leverage global experiences and data to transform theories into practical policy solutions.
Furthermore, Bashirli expressed confidence that IE University’s Leadership and Innovation Center will play a crucial role in developing human capital, enhancing the nation’s economic competitiveness, and boosting its innovation potential. The goal is to align international knowledge and expertise with Azerbaijan’s economic priorities, thereby converting investments in human capital into tangible productivity gains and economic outcomes.