Vesselin Iliev, General Director "International Economic Cooperation" - BIA, "Business Start", 02.07.2021
"Artificial intelligence means that a machine makes decisions that are not programmed. According to European statistics, about 80% of startups using artificial intelligence go bankrupt. Of the remaining 20%, more than half fail to make a profit. Only 3-5% of the ideas reach market capitalization and start to make a profit. Less than 1% are companies like Google, which make a market boom", according to Veselin Iliev, General Director of International Economic Cooperation - BIA, on the air of the show "Business Start".
The Bulgarian Industrial Association hosted the interactive event "Entertainment for Entrepreneurs", as one of the leading topics of the forum was artificial intelligence and Industry 4.0.
"Artificial intelligence is not from the future; it is around us. For example, for many years, Google Maps has been using artificial intelligence to route through points A to B. Aspects of artificial intelligence are not so much technological as legal. The forum is part of a series of activities to prepare the digitalization of Bulgarian enterprises ".
Veselin Iliev shares the opinion that the main problem in the development of artificial intelligence is legal issues. The critical question is who is responsible. For example, in an accident with an autonomous car, there is no insurer to cover part of the losses.
Among the other topics discussed was the news that 130 countries, including Bulgaria, joined the proposal to introduce a global minimum rate of 15%. The idea is for companies like Google, Amazon and Facebook to be subject to a 15% corporate tax.
"Regulating companies that have a dominant position in the market is a difficult task. Regulation is to create acceptable conditions of competition. Using some legislative gates, Ireland has won many big monopolies by helping them enter the European market. As a result, they managed to take a significant market share ".
According to the expert, on the one hand, such an entry has a positive effect, but the appearance of such a giant inhibits the development of others, those who also have good ideas, but due to their small size, fail to develop. "I am not convinced that the introduction of a global tax is the tool that will solve the issue of equal competition," Veselin Iliev added.
They also commented on the date for adopting the euro in 2024, without a transitional period.
"We should not talk about risks - there are clear rules under which Bulgaria will enter the eurozone. I favour adopting the euro, but I am not sure whether the competitiveness of the Bulgarian economy will change."
Vesselin Iliev opposes the view that the fixed exchange rate and the euro will suppress the development of the economy, as moderate inflation will not be allowed to stimulate the economy. According to him, the problems with competitiveness in Bulgaria are not related to the exchange rate but to labor productivity in the country.
