Taking into account the importance of artificial intelligence-based solutions, which have become relevant recently, and their contribution to the development of various sectors, the relevant Memorandum of Understanding was signed between the Central Bank and the Digital Development and Transport Ministry, Azernews reports.

The Bank said that the main purpose of signing the Memorandum is to support projects, initiatives, and ideas in the field of artificial intelligence in Azerbaijan, including the implementation of joint projects in the financial markets and the organization of measures for the formation of skills, technologies, ecosystems, infrastructure, and management mechanisms in the field of artificial intelligence. Thus, Azerbaijan is to become a regional leader in the field of artificial intelligence.

Within the framework of this cooperation, measures will be taken to attract artificial intelligence-based startups and companies to Azerbaijan, promote artificial intelligence-based innovations in various sectors, and establish cooperative relations with leading organizations to increase solutions and skills in this field. At the same time, in order to increase knowledge in the field of artificial intelligence, issues such as the organization of relevant training, seminars, and conferences will be focused on.