Artificial intelligence is changing the world’s economic and political landscapes, pushing every country to increase their AI investments. Bulgaria has a lot to catch up with its European peers on that front. According to research conducted by BGNES, only the Netherlands spends less on AI projects than Bulgaria, with Sofia allocating a mere 0.62% of its digitalization funds to this game-changing technology.
The assertion that AI will transform the global economy is less a prediction than a fact. Until 2030, the world’s fastest-growing technology could contribute around EUR 11 trillion to the global economy. New jobs are already being created around Europe, from prompt engineers ensuring smooth communication between humans and AI-powered systems to artificial intelligence engineers training AI algorithms. AI engineers rank among the top-growing professions in Switzerland and Italy. The latter leads by example with a substantial EUR 42 billion apportioned to digital growth.
By contrast, Sofia is lagging behind. Despite being allocated EUR 10.18 million by the NextGenerationEU (NGEU) instrument, a EUR 117-billion recovery fund aiming to build a more resilient and digital future across European member states, Bulgaria does not yet align with European objectives – perhaps for empirical reasons more than lack of ambition. Many challenges come in the way of the AI strategy published by the Bulgarian Government in 2020.
These obstacles are due to a combination of factors, ranging from regulatory barriers to trust issues. Arguably, the country’s small market size hinders its attractiveness. Meanwhile, Bulgaria’s massive outbound migration has caused a shortage of digital skills across domestic companies. Long the world’s fastest-shrinking country, Bulgaria has been steadily reversing that brain drain to lure talented nationals back home. In Plovdiv, newcomers started outnumbering leavers in a city reinventing itself as a dynamic IT destination.
Although Bulgaria’s position in the AI race is still weak, Sofia is stepping up to strengthen its digital infrastructure and AI capabilities. Bulgaria’s Ministry of Innovation and Growth announced a new project leveraging AI to develop a biometric access control system for mass events. Currently under development by a Bulgarian research team, this high-end product could ultimately replace wristbands and tickets, preventing unauthorized individuals from entering restricted areas such as concert halls or football stadiums. This AI-powered access control platform aims to analyze body language and facial expressions to detect suspicious behavior, bolstering security against potential threats.
Innovation minister Milena Stoycheva proclaimed that Bulgaria could soon be a regional leader. While acknowledging the country’s digital shortcomings, as its innovation performance stands as the second lowest in Europe behind Romania, the former entrepreneur is confident in her ability to help Bulgaria consolidate its role as an emerging innovator.
“We have lived through a lot of transitions,” she added, “and are much less risk averse” than more established economies. Whether her words will ring true in the future remains to be seen, but the need for Bulgaria to facilitate the adoption of AI is not up for debate.
The transformative power of artificial intelligence is already at play around the globe. Already, the technology has started to revolutionize sectors like banking, healthcare, and retail. AI is just as ground-breaking in the gaming industry, with studios perfecting responsive non-playable characters and adaptative virtual experiences. With gaming giants like Ubisoft and Gameloft having offices in Sofia, the technology is bound to shake up Bulgaria’s game dev ecosystem even more. Practical applications of AI are also prevalent on the internet, granting tech-savvy businesses many opportunities for online growth.
Major players in the iGaming sector have pioneered the integration of artificial intelligence to enhance cybersecurity measures and customize their product offerings and reward schemes. Showering newcomers with promotions and sign-up offers, new online casinos are particularly proactive in their marketing approach. Specialized platforms keep track of these new casino operators for players to find the right pick. Industry experts particularly focus on live casinos, which use the latest technological advances to provide an immersive gaming experience. Additionally, they publish comprehensive guidelines and tips to choose the right casino – and gamble safely and responsibly.
AI’s societal and economic importance is all too well-known to European member states. As part of its Digital Decade policy program, the European Commission has set ambitious goals for 2030, providing an action-oriented framework for 75% of EU companies to implement artificial intelligence. While Bulgaria is still far off that mark, policymakers and private investors are determined to advance AI in the country. (Novinite)