ALMATY, Sept. 11 (Xinhua) -- The use of artificial intelligence (AI) at Kazakhstan's Anti-Fraud Center has sped up the analysis of suspicious transactions 80-fold, the country's National Bank Governor Timur Suleimenov said Friday.
The National Bank also plans to use AI in foreign exchange regulation and financial monitoring, the Kazinform news agency quoted Suleimenov as saying on the sidelines of the Central Asia FinTech Summit in Almaty.
Kazakhstan's Agency for Regulation and Development of the Financial Market is developing a new strategy for large-scale digitalization of the financial sector and further AI adoption, the agency's chair Madina Abylkassymova said.
To this end, 1,200 specific measures have been identified, while individual development plans have been prepared for 94 financial institutions, covering 23 banks, 25 insurance organizations, 31 securities market participants and 15 microfinance organizations, Abylkassymova added.
The measures cover digitalization of internal processes, IT infrastructure development, data quality improvement, cybersecurity, AI adoption and employee training in digital skills, with plans to establish a digital transformation office to oversee their implementation, she said. ■