The country is also investing in AI and machine learning, with startups like Picsart and Krisp leading the way. The AI research community in Armenia has grown to over 600 people, and universities have established graduate programs in AI. Private initiatives are also focusing on building human capital, with programs like Armath and Real School aimed at sparking interest in technology among Armenian youth. Despite hardware constraints, venture capital and Western connections are helping startups build products.
Key takeaways:
- Armenia has emerged as a tech powerhouse with a vibrant startup ecosystem and the presence of global players such as Adobe, Microsoft, Google, IBM, and Cisco.
- The country's tech industry is its fastest-growing sector, expanding by more than 30 percent in 2023, and is drawing foreign investment.
- Armenia is focusing on developing artificial intelligence (AI) capabilities, with startups like Picsart and Krisp leading the way. The country's AI research community has grown to over 600 people.
- Private initiatives such as Armath and Real School are working to build human capital and spark interest in technology among Armenian youth, with the goal of developing future AI researchers and engineers.