Azerbaijan, Kazakhstan mull use of AI in financial sector

The Central Bank of Azerbaijan (CBA) has discussed the implementation of AI technologies in financial sector oversight processes and the use of advanced digital solutions with the Agency for Regulation and Development of the Financial Market of Kazakhstan (ARDFM), Report informs referring to the CBA.

The Azerbaijani delegation in Almaty was briefed on the ARDFM's activities, supervisory mechanisms, and digital transformation projects

During the discussions, the capabilities of the tools used by Kazakhstan to oversee the financial market were explored, in particular, dashboards that enable the rapid transformation of data into analytical indicators, as well as comprehensive stress testing systems integrated into supervisory processes.

The parties also exchanged views on improving the effectiveness of financial supervision through the implementation of AI technologies, exploring best international practices, and prospects for further cooperation.