4SIM and SOCAR hold joint session at Davos Forum

The Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR), under the Ministry of Economy, and the State Oil Company of Azerbaijan (SOCAR) organized a panel session at the 56th Annual Meeting of the World Economic Forum in Davos, Report informs, referring to the C4IR.

The session, titled Accelerating Energy Transition Through Technological Transformation: AI-Based Industry, was moderated by Fariz Jafarov, Executive Director of C4IR.

Discussions focused on accelerating decarbonization, improving operational efficiency, and ensuring sustainable development in the industrial and energy sectors through artificial intelligence, digital technologies, and Industry 4.0 solutions. The strategic importance of transitioning to Industry 4.0 for sectors where decarbonization is technologically and economically complex was highlighted.

Murad Abdullayev, SOCAR's Chief Digitalization Officer, emphasized SOCAR's commitment to enhancing energy efficiency, reliability, and safety in operations, sharing details about digital solutions applied for these purposes. He noted that effective integration of production systems with information technologies enables precise and timely decision-making.

Manju George, Head of Strategic Impact at the World Economic Forum's Center for Modern Technologies and Innovation, stressed the importance of public-private cooperation and global partnerships in ensuring a sustainable energy transition. She underlined that building digital industrial ecosystems is a key condition for inclusive transformation.

Jukka Maksimainen, Managing Partner for Northern Europe at McKinsey & Company, drew on global experience in energy transition, highlighting the need to focus not only on technology but also on human capital development. He emphasized the importance of systematic and phased approaches to shifting toward low-carbon and digitally driven industrial models.

Anant Maheshavari, President and CEO of Honeywell Global Regions, pointed out the significance of AI-based industrial solutions in optimizing costs and reducing emissions, stressing their role in successful transformation through results-driven decision-making.

At the conclusion of the session, Fariz Jafarov emphasized that the application of artificial intelligence and digital technologies in the industrial and energy sectors aligns with Azerbaijan's national digital economy and energy transition agenda. He noted that expanding international cooperation and adopting advanced global practices in this field are crucial for ensuring long-term sustainable development.