Eduard Musayelyan: We motivate entrepreneurs with success stories to develop their business using smart solutions

Smart economy means the introduction of smart solutions and innovative technology in various branches of the economy and the effective management of business. Eduard Musayelyan, Executive Director at the Union of Employers of Information and Communication Technologies (UE ICT) which organized the SILICON MOUNTAINS 2022 summit in Yerevan, told this to NEWS.am Tech.

"If we search for ‘smart economy’ on the Internet, we will come across different explanations. In our opinion, ‘smart economy’ is the introduction of smart solutions and innovative technology in various branches of the economy and the effective management of business. By applying, developing, and exporting smart solutions in various fields, we [i.e., Armenia] can become the Silicon Valley of the region or, in the case of Armenia, the Silicon Mountains," he says.

Musayelyan notes that holding such summits is very important because it gives an opportunity to present the stories of successful businesses through smart solutions to others and thus motivate them.

"In general, the purpose of the summit is also to exchange experience, set an example, and serve as an example. This event is different from the previous ones because if at that time we talked about specific technologies in a technological language, today we speak in a much simpler language for our audience," he says, adding that representatives of the state system and business, as well as representatives of such businesses that have absolutely no connection with the IT sector, but widely use the mechanism in their business development participate in the aforesaid summit.

"We motivate businesses with a success story so that they also use digital tools to develop their business," he says.

The Union of Employers of Information and Communication Technologies is holding the SILICON MOUNTAINS 2022 summit for the fourth time. During the previous event, which was held with the support of the Central Bank of Armenia, the vision for the forming of the digital agenda was formulated.

The Union of Employers of Information and Communication Technologies was established in 2015, and to date more than 50 established companies—including supranational ones—are its members.

"This shows that we work well with various directions. We do various programs with international partners; in particular, we have a new educational platform that teaches businesses what digitization is, what it consists of, and what tools to use for digitization," he says.

And to the question of whether there is any branch of the economy that needs smart solutions the most, Eduard Musayelyan answers that there is such need in all branches—from agriculture to health care.