AI can become driver of EAEU economic growth

AI can become driver of EAEU economic growth

Artificial intelligence has the potential to become one of the drivers of economic growth of the EAEU member states. According to Alexey Vedev, Director of the Macroeconomic Policy Department of the Eurasian Economic Commission, AI technologies are already being actively used in industry, logistics, the financial sector, and public services across the Union. However, the further development of digital economies requires not only the adoption of innovations but also coordinated rules governing their use. This is why the leaders of the EAEU countries signed a joint statement on the responsible development of artificial intelligence. In the coming years, AI technologies will largely determine the competitiveness and growth rates of the economies of all member states, the expert believes. According to Alexey Vedev, nearly half of GDP in the countries is generated by the services sector, which is directly linked to digitalization and the implementation of AI.

 

«Artificial intelligence and digitalization can serve as engines of economic growth. The potential for GDP growth is expanding, making economic growth rates of 4–5% appear entirely achievable. From this perspective, I believe this agenda is both appropriate and well-founded. Moreover, the impact of digitalization and the implementation of artificial intelligence is realized much more quickly. The timeframe is now measured in months rather than years or decades, as was the case with other factors,» noted Alexey Vedev, Director of the Macroeconomic Policy Department of the Eurasian Economic Commission.