Ulaanbaatar, Mongolia - February 29, 2024 - Leading scholars from across Mongolia, in partnership with Tera Group, have initiated the groundbreaking "Innovestment" project, aimed at leveraging artificial intelligence (AI) projects for economic growth. This collaborative effort signals a significant stride towards fostering innovation and economic development in Mongolia.
Drawing inspiration from successful models in countries such as the USA, Germany, Switzerland, and South Korea, where corporations and scholars collaborate closely to drive research and development, the "Innovestment" project seeks to harness the potential of AI technology to stimulate economic turnover. By bridging the gap between academia and industry, the project aims to create a robust ecosystem conducive to innovation and economic prosperity.
"The convergence of science and business sectors on AI projects will usher in a new era of disruption, particularly in financial, mining, and agricultural industries," remarked Professor A. Enkhbayar, a key figure in the project. "This project is not just about developing AI technologies; it's about transforming them into tangible economic benefits for Mongolia."
Highlighting the importance of collaboration, A. Tsengelbayar, General Director of Tera Group, emphasized the role of partnerships in driving innovation. "Gone are the days when innovations were confined to high-cost laboratories. Through the 'Innovestment' project, we aim to democratize access to AI technology and empower Mongolia to compete on a global scale."
The "Innovestment" project is poised to create an ecosystem that enables Mongolian investors to channel their resources into AI projects with export potential. By shifting focus from traditional industries like mining to knowledge-based sectors, the project aims to position Mongolia as a hub for technological innovation and economic growth.
Launching its operations on Guyuk Metaverse, the "Innovestment" project is set to revolutionize the way AI technologies are developed, funded, and commercialized in Mongolia. With the support of talented financial, investment, and management experts, scholars are poised to translate their research into tangible economic outcomes.
As Mongolia embarks on this transformative journey, stakeholders from across sectors are encouraged to join hands in fostering a culture of innovation and collaboration. Through concerted efforts and shared vision, Mongolia has the potential to emerge as a global leader in AI innovation.
The scholar team: Professor Enkhbayar A, Professor Galbayar A, Professor Mend-Amar M, Professor Altangere Ch
Management team: Ider S, Ganzorig G, Tsengelbayar A
