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Artificial intelligence, a new investment area for national development fund

  • 20 April 2024
  • 07:56
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Artificial intelligence, a new investment area for national development fund

All living things are changing, since stillness is not an option for an alive body.  This is the greatest lesson we can learn from the mother of nature and alteration of the seasons. It’s not possible to flee the change and expect pleasant occurrences at the same time.

According to national development fund’s public relations, every structure evolves along the time, and mankind and its products are no exception. Undoubtedly, engineering the changes aiming at optimizing the outcome is exactly the path national development fund has adopted in last three years. A couple of strategical fundamental steps has been taken and now on the verge of 1403 it’s preparing for the third step. The fund has undergone such ups and downs during the last three years which maybe were unprecedented in its 13years history from its establishment; but it moved past the downs, knowing to reach the spring, first one has to pass across the winter.

We all know well that in fact national development fund’s true success and effect is achieved only when it plays a role as a national wealth fund, creates value and wealth, people can see national resources maintenance through its function and last but not least, it preserves the future generation’s share of today resources; The fortunate occurrence which is the essence of the fund. But affliction of routine work and acting as a governments supplier had kept the fund from this pleasant advantageous occurrence over a decade, but since 1400 it has stepped on a new path to both provide today’s generation and leaving behind a good memory and a precious legacy for Iran’s dear future generations.

National development fund’s three pivotal steps

First step was making changes in functions which was realized by a fundamental change in national resources conduction method. National development fund operationally shifted from loan-giving to investment for the first time in its history; since loan-giving policy for over a decade had pushed the fund towards a crisis.

So in compliance with other successful experiences across the world and of course inland considerations, a road map was drawn so the fund can create value and wealth and improve its resources while preserving national resources, through investing in successful profitable plans. The road map evolved and the fund invested in some worthy plans with the beginning of 1401. Let’s not forget that in the very first step, the fund’s operation method to exit the plans and projects was also declared along the pathway to enter the plans and investment and value creation methods.

In 1401 some successful investment happened to the fund which was considered an unprecedented outcome; but still the bigger problem remained unsolved: there were resources spent as loans and facilities mostly allocated to government. The fund couldn’t find a way to reclaim these national resources which had been taken out during last decade.

In confronting the second challenge and considering 1401 experiences, national development fund planned and executed an investment in oil and gas industry as a strategy for 1402. This plan focused on the fields in common with neighbor countries in order to provide the fund, preserve future generations’ share and reclaim the governments’ debt from the over-extraction supported by its investment. Hopefully this important strategy has an ending in advantage of all Iranians.

Finally, in the beginning of 1403 national development fund has clearly found out that future global market and international economical trades will be orbiting brand-new technologies. Nowadays we witness national wealth funds across the world investing their resources in new technologies because of high growth potential, quick return of money and their interest in various portfolio.

So like any other wealth fund in the world, national development fund of Iran also has stepped into this new path. Obviously, the fund’s anticipation of investing in new technologies is not becoming an enterprise and it is not going to enter the small-scale business. National development fund, backed by constitutional purposes, remains a mere financial institution and will make significant investments in new technologies such as AI in the years to come. Today the fund stands on the threshold of evolution and transcendence, and embraces the difficulties. and the fact that completely positive results are not always possible, doesn’t scare it off; as essence of change is having a certain path which leads to advantages, however uncertain amount of achievements is inevitable.

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