Armenia is increasingly positioning itself as a growing player in the global digital economy, with leaders from international technology companies, financial institutions, and local innovators highlighting the country’s progress during the recent Doing Digital Forum in Yerevan. The event brought together key voices to discuss how countries can adapt to rapid technological change, build modern infrastructure, and compete in the era of artificial intelligence and digital finance. The Armenian Report was on the ground covering what many described as a defining “digital day” for Armenia’s future.
A central theme throughout the discussions was the role of innovation culture in determining which countries will benefit most from the AI economy. Matias Undurraga, Head of AI Europe at Amazon Web Services, stressed that progress depends not only on access to technology but on mindset and experimentation.
“I think it’s the willingness to innovate. It’s about the culture and being able to experiment. So, I think the countries that will get ahead are the ones where we have a culture that supports experimentation.”
He explained that smaller countries like Armenia should focus on building local capabilities while also relying on global infrastructure where needed. In particular, cloud computing allows countries to avoid the high cost of building their own systems while still accelerating development and innovation.
“So, I think it’s very important to build capability. Being able to stay local, develop your own models, and experiment is going to help you. Of course, we want to take away the burden of having to set up your own data centers, and that’s where cloud computing comes in. Cloud computing is about accelerating your time to market. And when you think about infrastructure, you don’t have to go out and rebuild it. This is where you can rely on cloud providers.”
Reflecting on his visits to Armenia, Undurraga pointed to a noticeable shift in the country’s approach to technology, saying that the local ecosystem has become more open and mature.
“Well, it’s my second time. I’m very happy to be here. I think what has changed is that people are a little more open to experimenting, to actually exploring technology, and to advancing with it. So, I think the market is becoming more mature and open to newer technologies.”
From a financial system perspective, Armen Nurbekyan, Deputy Governor of the Central Bank of Armenia, outlined how Armenia is working to balance innovation with regulation. He emphasized that creating trust and equal conditions for businesses is essential for long-term growth.
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