Artificial Intelligence Becomes a Vital Matter for Banks

The second session of the KEY TECH conference, dedicated to artificial intelligence, brought forth an interesting point. It was highlighted that banks which fail to implement artificial intelligence in the coming years will lose their competitiveness.

This assertion served as the basis for discussions on how artificial intelligence is transforming the banking sector and the necessity of acknowledging its role. The panel discussion, moderated by Ulugbek Tavakkalov from Kapitalbank, brought together representatives from AVO Bank, Mikrokreditbank, InfinBANK, and Sbertex.

The speakers stressed that artificial intelligence is no longer an experimental project but a practical tool that enhances efficiency. Rashid Lakhlu from AVO Bank underlined the challenges of integrating new technologies into existing processes.

"We began with risk and anti-fraud management. In these areas, artificial intelligence demonstrated its best potential.

However, achieving results requires restructuring and re-establishing interactions between departments," he stated. Experts noted that while technological advancements often outpace legislative changes, this should not be a reason to slow down the process.

Amid competition, banks are compelled to quickly integrate artificial intelligence. According to Aziz Siyoyev of InfinBANK, the banking sector provides an ideal environment for artificial intelligence.

This is because it has access to vast amounts of data and a ready technological infrastructure. Moreover, personalization of services and improvement in decision-making accuracy have demonstrated significant results.

Yaroslav Uporov from Sbertex discussed the AI-native approach, which involves integrating artificial intelligence components into every product. "The question now is not whether to implement artificial intelligence, but how to do so responsibly.

A human-centered approach remains the main criterion," he said. The discussion also touched upon the errors of artificial intelligence models.

Representatives from AVO Bank shared an example where automating selfie verification unexpectedly led to a decrease in the average deposit size. This case serves as a reminder that artificial intelligence requires continuous monitoring and technical expertise.

Additionally, experts emphasized that generative models are not yet used in scoring due to the difficulty of explaining their decisions. Banks still rely on classical machine learning methods that allow for decision justification.

In conclusion, participants evaluated artificial intelligence not just as a modern technology but as one of the key factors that will determine a bank's profitability, process efficiency, and ability to remain competitive in the market in the years to come. Read “Zamin” on Telegram!