Russia, World Economic Forum Sign Deal On Creation Of Digital Economy Hub

Russia, World Economic Forum Sign Deal on Creation of Digital Economy Hub

MOSCOW (UrduPoint News / Sputnik - 14th October, 2021) Russian Deputy Prime Minister Dmitry Chernyshenko and World Economic Forum (WEF) President Boerge Brende signed an agreement on Wednesday to set up a center for the promotion of digital economy and governance in Moscow, which will become the 15th hub in the WEF global chain of members.

"The main purpose of the Centre for the Fourth Industrial Revolution Moscow is to raise awareness of Russia's role as part of the global expert community. This is an opportunity to share experience and expertise gained by the World Economic Forum and its partners around the world," Chernyshenko said at a press conference.

Russia and the WEF plan to launch pilot projects on artificial intelligence (AI) and the internet of things (IoT), according to the deputy prime minister.

"What we are trying to do with these 15 centers around the world is to make sure that these technologies will work in the interest of mankind. I am very glad that the 15th centre will be in Moscow and I am very happy to see that BRICS countries are represented," the WEF chief said.

The global network of members of the WEF Fourth Industrial Revolution has been expanding for five years now. The Centres are researching policy frameworks for advanced technologies, AI, IoT, and autonomous vehicles, among other innovations. The initiative would like to engage participating countries in minimizing the risks of advanced technology and maximizing the benefits to society.