The Central Bank of Azerbaijan (CBA) has held another roundtable on the topic "Expanding Digital Transformation and the Application of Artificial Intelligence."
According to the regulatory body, the CBA continues to hold meetings that support the promotion of innovative solutions and services in the financial sector. The roundtable, which serves as an important discussion platform in this direction, this time brought together representatives of organizations from the insurance sector and capital markets.
The meeting, chaired by Sadig Akhundov, Chief Director of the Central Bank of Azerbaijan, was attended by heads of organizations responsible for digital transformation.
"Sadig Akhundov spoke about the significance of initiatives implemented towards forming an innovative ecosystem in the country. He discussed the need to implement in the financial sector the priorities defined at the meeting on 'New Digital Architecture of Azerbaijan,' held in February this year under the chairmanship of President of the Republic of Azerbaijan Ilham Aliyev, as well as at the first meeting of the Digital Development Council, held in June under the chairmanship of First Vice-President Mehriban Aliyeva.
The Chief Director, noting the importance of accelerating digital transformation for the development and competitiveness of the financial sector, emphasized 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 an important role in forming a sustainable digital financial ecosystem," the statement said.
The meeting continued with discussions on the application of artificial intelligence in the sector, the main challenges faced by sector participants in the digitalization process, and potential opportunities.
