Mr. Mane, you have attended one of the most significant activities devoted to technological and digital innovations, the Web Summit, which was held in Europe. Did you attend this event to acquire knowledge about the latest innovations or to scrutinize any start-up that you consider investing in?

As an entrepreneur, I am always supporting new ideas that can establish an effective business for the society but also generate income. In addition, I strongly believe that the latest technological innovations, mainly in the digital sphere, provide great investing opportunities. The Web Summit held in Portugal is not the only event related to digital developments that I attend. Throughout the year, I try to mark in my calendar some significant events related to innovation on a global scale that I can attend. This helps me learn about the latest developments but also to "hunt" for start-ups that provide good investment opportunities and require support.

Everyone is talking about a digital revolution. How significant do you believe the application of digital innovations is and will be?

We are witnessing some major and rapid changes taking place in various areas of society, therefore also in business. The development is so rapid that at times it is becomes difficult to follow. I believe the digital revolution is making room to the artificial intelligence revolution. Soon enough, entire processes that currently require considerable time and effort will be assisted by artificial intelligence, saving numerous hours and resources. This trend is turning into a matter of great importance not only in business but also in the public service sector. Day by day, we see the creation of new artificial intelligence tools that are finding more and more widespread use.

Many worldwide well-known people are sceptical about the use of solutions provided by artificial intelligence. For instance, Yuval Noah Harari believes that the above-said solutions are fatal to humanity. What is your stance on this discussion?

I think that artificial intelligence is an aid to processes or jobs that are time, energy and effort consuming. I support the use of artificial intelligence to simplify things. It will beyond any doubt re-dimension many factors in our lives. Undoubtedly, some jobs may be endangered, but it is equally true that new specializations and occupations are being established where other skills are required. As before, humanity has managed to adapt and use anything that has been offered to its advantage.

We should not be refrain from using artificial intelligence. The smart and proper use of artificial intelligence shall also determine the fortunes of many businesses in the future. Therefore, the sooner we acquaint to the idea of ??an aid from artificial intelligence and the sooner we learn how to properly use it, the more odds we will have to progress.

Mr. Mane, you operate in several regional markets and beyond. Do you think the time has come for Albanian companies to make use of technology in order to develop into regional and why not global companies?

There are several indicators regarding the use of technology and digital innovations. Despite the fact that Balkan countries are not well positioned, there is marked significant development from year to year. From the meetings I had with regional businessmen and company leaders, I can say that the private sector has shown interest and is investing in this regard. It would be absurd not to focus and invest in technology and the digitalization of various business processes these days. If you fail to follow the rhythm of other countries, you cannot respond to international partners who are positioned at a certain stage of using digital solutions and expect it from the companies they build partnerships with. 

Mediterranean countries like Albania are much preferred by digital nomads from different countries of the world, especially Northern Europe. I know two of them who have moved together with their families to Green Coast. They admire the climate, the food and the social environment a lot. Therefore, it is time for the country to not only be appealing for individuals operating in the field of technology, programming, and digital developments, but also for companies. We should establish packages for international companies to move their headquarters to us. Albania and the entire region should identify a reference point in an advanced country in the application of technology in everyday life and try to pursue it.

Is BALFIN Group itself investing in innovation, technology, and digitalization?

BALFIN Group is investing in two aspects in terms of innovation. We are engaged in transforming the internal processes of companies as well as investing in technological start-ups.

For several years now, we have started remodelling our companies by increasing the use of new technologies for digitizing some processes, some of which are powered by artificial intelligence. For instance, marketing has established several communication campaigns using images created completely by artificial intelligence. Meanwhile, we have established a team dedicated to digital transformation who are doing an excellent job. They have generated solutions to processes that previously required a lot of time and effort. Nowadays, they are performed instantaneously and more efficiently.

The second aspect we are investing is in technological start-ups. To be more specific, I am mentioning here one of our investments related to medical technology. . We have invested in a start-up, Clexbio, that provides a very intelligent solution in the field of medicine. The regenerative implants that Clexbio is developing will be a revolution in bio-engineering.

We are seeking for opportunities to invest in innovations that can generate business generating and be useful. Furthermore, we intend to support young men and women with innovative ideas in accomplishing them. Innovation is engraved in BALFIN Group’s DNA and constitutes a strong point of our corporate culture.