WHY DIGITAL ECONOMICS?

Europe is striving to reach a leading position in the sphere of digital economy development. Many of the new discoveries and achievements in the sphere of artificial intelligence and the implementation of intelligent solutions in agriculture have come from European laboratories! European companies are the ones who produce approximately ¼ of all industrial and professional robotic service devices.

Modern information technologies provide an important investment in the improvement of the lives of people in many areas by, for example, improving healthcare, ensuring more effective state governance, implementing intelligent solutions in financial and global business services sector, facilitating the accessibility of education and culture, inventing safer and smarter vehicles and increasing the competitiveness of industry and agriculture.

Intelligent solutions not only make our lives easier, but also help solve relevant European and global issues, such as helping in predicting cybersecurity threats, fighting against climate change, curing chronic illnesses etc.

In the statement published by the European Commission on 25 April 2018 called „Artificial intelligence for Europe” a number of specific measures were outlined for the use of artificial intelligence in the interests of European citizens with the purpose of facilitating the competitiveness of Europe in this area.

Following the encouragement of the aforementioned statement published by the European Commission. the Institute of Economics of the Latvian Academy of Sciences in cooperation with the leading Latvian intelligent technologies company „Latvijas Mobilais Telefons” organizes an Economic Forum “INDUSTRIAL rEVOLUTION 4.0: Digital Economics, Data Protection and Compliance Good Practice”, which will gather European and global level researchers, entrepreneurs and public sector representatives for the purpose of promoting cooperation in the entire EU, the exchange of best practices and the further development of the EU’s competitiveness in the digital economy.

AIMS OF THE FORUM

  1. To pay special attention to the information and communication technologies (ICT) used in all spheres of the national economy, and to the usage of European resources in the era of digital economy, contributing to the strengthening of Latvia's leading positions in the smart technologies industry.
  2. To use scientific potential and research results for the development of entrepreneurship, finding new niches and sources for the development of entrepreneurship in accordance with the trends in the economy of the 21st century, and improving digital security.
  3. To continue the successful practice of the I European-Latvian Economic Forum, where it serves as a platform for the exchange of experience and facilitating cooperation between scientists, entrepreneurs and politicians, stimulating the entry of local and foreign investment and the development of an innovative national economy in the long term.

ARTIFICIAL INTELLIGENCE IN LATVIA

Artificial intelligence technologies are already intensively used in Latvia, as well as several research and development being carried out in several directions of artificial intelligence and machine learning: natural language processing, computer skills and image analysis, robotics and human-robot communication, as well as bioinformatics, education and social media areas.

Latvian enterprises have developed traffic monitoring solutions, which improve traffic safety in a substantial way and save lives, ensures a unified sensor for the transport sector and data administration, and processing by using the advantages provided by the deep neuron network. The first customer support robot Anete, which provides assistance in the Latvian language via the virtual environment, has started work in the Latvian enterprise Lattelecom.

Similarly, Latvian information technology enterprises develop computer vision technologies that are applied in a variety of fields – from microbiology to the media environment, using state of the art language technologies such as new machine translation systems, terminology management and speech recognition tools, developing innovative digital solutions for data protection and ensuring compliance.

Latvian researchers carry out research and experiments on the development of a self-driving vehicle, develop an object recognition and collection robot, and implement other large-scale research projects in the field of artificial intelligence and digitisation.

Thus, artificial intelligence has become one of the most important technologies of the 21st century, while the digitization of several processes and technologies has gained a significant and strategic significance for the economic development of Latvia and the European Union as a whole.

REASONS TO ATTEND

What makes Economic Forum unique? The II Economic Forum is not your usual conference. There are many events for entrepreneurs or top managers to discuss business trends. There are scientific conferences for specific audience with little interest from business side and general society. There are meetings of politicians, often closed for wider public. But innovative ideas are often born out of efforts to synthesize conflicting perspectives. We prefer open dialogue. That’s why we focus on collaboration of industries, which meant to unite diverse vews on the hot topic and highlight needs of all stakeholders. The main distinction of Economic Forum is that it serves as a platform for the exchange of experience and cooperation of scientists, entrepreneurs and politicians (B2S2P), stimulating the entry of local and foreign investment to the country and region, and their contribution to the development of an innovative national economy in a long term.

Seven main reasons to participate in the Forum:

  1. concentration of the brightest minds who works in areas of economics, business and development of technologies at European and international level and who will share practical experience, scientific developments, stories of success and failures, new discoveries and achievements;
  2. a discussion of innovative topics useful for both business and research and development: artificial intelligence (AI), Internet of Things (IoT), blockchain technologies, online business, export of ICT services, data protection, cybersecurity, application of smart technological solutions in different areas and others;
  3. an interdisciplinary approach to look at digital economics: synergy of engineer thought, social sciences and humanistic knowledge!

And more:

  • New acquaintances, new potential partners and clients: meet and collaborate with executives in your industry!
  • Business to business meetings (B2B), business to science (B2S), science to science (S2S) and politicians (B2S2P): find a partner ready to turn your research into a business opportunity!
  • Best professional know-how stands EXPO “Made in Latvia”: see and test tomorrow’s innovations today!
  • Unique cultural and musical program!
  • As surprise for participants!;)

MAIN TOPICS

GLOSSARY

Industrial Revolution 4.0

  • According to the World Economic Forum, we are in the Fourth Industrial Revolution. What does it mean?
  • The foundation for this modern industrial revolution is the Internet of Things (IoT), which enables data exchange between all participating units – from the production robot to inventory management to the microchip. This connects all production and logistics processes together, making our industry more intelligent, efficient and sustainable.
  • Logistics 4.0 is the key to the future.

Digital Economics

  • Digitisation is providing companies with new ways of networking and automating their supply chains and deriving more value from them. The essential ingredients are "intelligent" pallets and containers, warehouse management systems and driverless transport systems.

Data Protection

  • Data protection is the process of safeguarding important information from corruption, compromise or loss. The importance of data protection increases as the amount of data created and stored continues to grow at unprecedented rates.
  • Big data management is the organization, administration and governance of large volumes of both structured and unstructured data. The goal of big data management is to ensure a high level of data quality and accessibility for business intelligence and big data analytics applications.

Compliance

  • The compliance function can be transformed into a proactive and cost-effective asset to business by new automation, analytics and artificial intelligence capabilities – combined with evolving delivery models and process redesigns.
  • Compliance and risk management functions are currently facing a confluence of pressing challenges: ongoing changes to regulatory requirements, increased regulatory inquiries and rapidly evolving technology landscape.

AUDIENCE

II European Latvian Economic Forum is a unique starting point for cooperation of entrepreneurs, researchers and decision-makers who are concerned with the future of European and international economy.

Our main guests:

  • Entrepreneurs: both big business and fast-growing start-ups
  • Scientists and experts from the leading research centres
  • Politicians and decision-makers
  • Public administration
  • Representatives of embassies and diplomatic staff
  • Students interested in digital economics, artificial intelligence and data protection issues
  • Press & Media

THE VENUE


Latvian Academy of Sciences
Akademijas iela 1, Riga
LV-1050

ABOUT THE ORGANIZER

The Latvian Academy of Sciences Economics Institute’s work and activities are oriented towards the research of problems in agriculture in Latvia by searching for and creating innovative and scientifically-backed solutions. Currently, the institute is one of the leading agriculture research centers in Latvia with broad cooperative ties with Europe and other world nations, which are able to give a competent opinion based on their own research about the processes which occur in Latvian, Baltic and European agriculture, as well as being able to outline a path for the future.

The Institute of Latvian Academy of Sciences is a stable, independent, scientific organisation that:
  • accumulates and analyses the information about topical problems of economy;
  • carries out scientific researches in the area of economy and other areas of social sciences, as well as in interdisciplinary spheres;
  • provides informative, methodical and scientific support to research activities in the area of social sciences;
  • carries out independent, qualified analysis and estimation of draft laws prepared by state institutions on the subject of economic area;
  • gives consultations on the topics of social economic development processes in the country, regions, organisations;
  • elaborates recommendations aimed to improvement of formation and implementation of economic policy;
  • informs the government and the society about the situation in the economy and about possible development tendencies of it;
  • stimulates commercialisation of inventions and cooperation between scientists and entrepreneurs;
  • elaborates and leads international projects of European union and others;
  • organises round table discussions, conferences, economic forums and other scientific educational activities.

The mission of the Institute is to facilitate the development of Latvian economy in the regions and in the country as a whole, preparations based on prior research, competent assessments and opinions on ongoing processes in the economy of Latvia, Baltics and Europe, as well as elaborating recommendations related to development opportunities of economy.