Digital Platforms, AI Reshaping Global Economy, Says Russian Deputy PM Novak

ST. PETERSBURG, June 4. /TASS/. The development of digital platforms is changing the structure of the global economy, with their growth following an exponential trajectory, Russian Deputy Prime Minister Alexander Novak said at the SPIEF opening ceremony.

"Over the past few years, we have seen the active development of digital platforms that are being widely integrated into the economy and changing its structure. They create opportunities through the use of big data, the accumulation of this data, market research, and bringing consumers together around these platforms. New markets are emerging, efficiency is increasing, and even the structure of employment is changing significantly. Today, these digital platforms are developing exponentially," Novak said.

According to Novak, digital platforms in Russia account for around 8.5% of GDP in terms of the sale of goods and services.

"For comparison, this figure stands at 5% in Europe and 12% in China and the United States. Russia is one of the leaders in this area. Therefore, this is one of the directions that will transform both the domestic economy and economic interaction between countries," he noted.

The deputy prime minister also drew attention to the active global adoption of artificial intelligence.

"We must clearly understand that this will also have a major impact on economic processes, the structure of economic sectors, the speed of decision-making, and the efficiency of various areas. If initially it was essentially just a search engine for large volumes of data, today we are actively seeing the introduction of agent-based services that make it possible to use artificial intelligence across various industries and sectors. This is already becoming an implementation platform that is also driving changes in the global economic approach," Novak added.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.