In recent years, artificial intelligence (AI) has experienced rapid growth, particularly accelerating in late 2022 and early 2023. AI's potential became especially evident during the COVID-19 pandemic, where it played a crucial role in predicting virus spread, developing preventive measures, and accelerating vaccine research.

 

Globally, the AI solutions market was valued at approximately $200-300 billion in 2022, with projections suggesting it could surpass $1.5 trillion by 2030. AI is expected to remain a key driver of technological innovation, particularly in autonomous systems like self-driving cars and drones, as well as urban management, healthcare, and environmental sustainability.

 

Despite its transformative potential, AI's rapid adoption raises concerns around job displacement, data privacy, and decision-making errors. To mitigate these risks, collaboration between governments, businesses, and civil society will be essential to harness AI’s potential for public good.

 

KAREN MARTIROSYAN, Co-founder of Export Armenia and Shareholder at Avenue Consulting Group

 

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