BAKU, Azerbaijan, August 28. The Central Bank
of Azerbaijan organized another roundtable discussion on the topic
“Expanding Digital Transformation and the Application of Artificial
Intelligence.”
This was announced by the press service of the Central Bank of
Azerbaijan.
Thus, the Central Bank continues to hold meetings aimed at
promoting innovative solutions and services in the financial
sector. The roundtable “Expanding Digital Transformation and the
Application of Artificial Intelligence,” which brought together
representatives of the insurance sector and organizations operating
in the capital markets, has become an important platform for
discussion in this area.
The meeting, chaired by Central Bank Director General Sadig
Akhundov, was attended by high-ranking officials responsible for
the digital transformation of their organizations.
Sadig Akhundov spoke about the importance of initiatives
undertaken to foster an innovative ecosystem in the country. He
emphasized the need to implement the priorities for the financial
sector established at the meeting on “Azerbaijan’s New Digital
Architecture,” held in February of this year and chaired by the
President of the Republic of Azerbaijan, Ilham Aliyev, as well as
at the first meeting of the Council on Digital Development, held in
June and chaired by First Vice President Mehriban Aliyeva.
“The Director-General noted that accelerating digital
transformation is of immense importance for the development and
competitiveness of the financial sector, emphasizing that the
effective and responsible use of new technologies, the development
of digital services, and ensuring an optimal balance between
innovation and risk management play a crucial role in shaping a
sustainable digital financial ecosystem,” the information says.
The meeting continued with a discussion of the application of
artificial intelligence in the sector, as well as the main
challenges and potential opportunities facing industry participants
in the process of digitalization.
