Central Bank signs Memorandum of Understanding with Ministry of Digital Development and Transport

07-11-2023

07 November 2023, Baku: Considering AI-based solutions, that have become relevant recently and their possible contributions to the development of various sectors, the Central Bank and the Ministry of Digital Development and Transport signed a Memorandum of Understanding.

The main objective of the Memorandum is to support AI projects, initiatives, and ideas in our country, including the implementation of joint projects in financial markets, organization of activities to build AI skills, technologies, ecosystem, infrastructure, and management mechanisms, thus turning Azerbaijan into a regional leader in the field.

As part of this cooperation, measures will be taken to attract AI-based startups and companies to Azerbaijan, promote AI-based innovations in various sectors, and establish cooperation with leading organizations to enhance related solutions and skills. At the same time, to boost the level of knowledge in artificial intelligence, the institutions will focus on the issues, like arranging relevant trainings, workshops, and conferences.