This was stated by Head of the Department of Public Relations of the Institute of Information Technology of ANAS Rasim Mahmudov during a speech at a scientific seminar on the International Mother Language Day.

He spoke on "The language industry as a segment of the knowledge economy", head of the department informed about the basic principles of the knowledge economy, brought to the attention of that research, education, information technology, publishing, media, language and information services industry are its main segments.

Having noted that during the modern period science, education, economy and other spheres are promptly globalized under the influence of ICT, R. Makhmudov reported that multinational companies aim to expand constantly the bases, to work in multilanguage bases, to cover all language segments.

He informed on the Common Sense organization conducting scientific research in the field of the language industry. According to him, now the amount of the language industry makes 40 billion, and by 2020 this indicator will be equal to 45 billion.

R.Mahmud also brought to the attention of the statistics of the world ranking of companies engaged in the translation, for 2016, the market volume of the translation types, the rate of growth of global markets and the linguistic division by regions, rank websites according to the number of language services and others.

"Modern technologies allow translating texts with the assumption of minimal errors," - said the head of the department, spoke about the areas of application of machine translation. He also spoke about the organizations operating in the field of language industry journals publish articles in this area, international translation standards.

R.Mahmud said that in order to control the proper use of the Azerbaijani language in the translated materials, regulation of socio-economic, scientific, technical, literary and cultural exchange at the local and international plane in terms of translation, as well as organizations in the translation of scientific, technical, medical, legal and other spheres, Cabinet of Ministers of Azerbaijan Republic acting translation Center.

The speaker brought to the attention the presence in our country the necessary economic conditions for the formation and development of the language industry. In addition, he stressed the need to solve certain problems regarding the language industry, the formation of scientific and methodological framework for the measurement of the language industry and the regulatory framework of language industry, the development of international standards for the transfer, the use of ICT and machine translation in the language industry.