Although there is concern around the world about the dangers of artificial intelligence, such concerns have been present after almost all major innovations, and the government is not only open to the use of AI, but already has a successful track record. Deputy Minister of Economy Rafael Gevorgyan mentioned this in an interview with NEWS.am Tech within the framework of the Orion Summit-2023 held in New York on June 19-22.

"Currently, we have a similar experience in the tax authorities, where certain researches are carried out using AI, and we are trying to increase the quality of inspections. We already have indicators of how much more tax liabilities could be imposed by applying the Tax Code, and how accurately the list of organizations that are subject to inspection was selected. This process is continuous, and recently another decision was approved in the Digitization Council, by which the tax authorities will begin to introduce AI tools in their daily work with even greater momentum," he said.

When asked why the practice of investing in technology companies is not widespread in Armenia, the minister noted that it requires quite specialized knowledge and large funds.

"Two clubs of "business angels" have been formed in Armenia in recent years. In this way, individuals participate in the formation of the innovative ecosystem. We think that along with the increase in the level of savings in society, it will become more and more interested in the development of similar tools. Of course, there is also the role of the government to promote this process through tax incentives and awareness programs," he said.

The Ministry of Economy is a co-organizer of Orion Summit 2023 and participates in the conference with a representative team at the level of minister, deputy minister. Speaking to NEWS.am Tech, Gevorgyan summarized the results of the four days of the conference. According to him, the organization of similar events and their continuation are of key importance for the ministry.

"For years, we have not shown enough activity in the USA and European countries, and we believe that this activation is important for the creation and strengthening of relations with international state and non-state structures, as well as with the Armenian diaspora, and similar discussions definitely help.

We have had a number of meetings, for example, at the Cornell University of Technology, with the players of the venture ecosystem. We think that all of this will show its results in the near future, but on the other hand, it is important to understand that similar measures do not produce results in one day," said the Deputy Minister.

According to Gevorgyan, Armenia has many problems hindering investments in various fields, however, at the same time, a record result was registered last year: the investments in relation to the GDP were at a historically high level.

"For several years, the government, in accordance with the plan, has started to make large investments in science, in the field of infrastructure development, the share of capital expenditures in the GDP was also at a historically high level last year. With all this, we believe that there is still a lot to be done so that the investment environment is such that a much larger number of investors are interested in Armenia," he said.